The reporting of benefits in kind (BiK) has transformed over the past few years. Gone are the days of paper based P11Ds, having been replaced by online reporting and the option of ‘payrolling' BiKs through payroll systems.

The UK House of Commons Treasury Committee, has announced the release of a report on venture capital as well as recommendations to address issues with venture capital tax relief.

Starting 6 April 2025, the UK government will remove tax reliefs for Furnished Holiday Lets (FHL), ending benefits like capital allowances and mortgage interest deductions, impacting property owners' tax strategies.

FICs are companies limited by shares (an "Ltd" or "Limited") and often established by parents and/or grandparents ("Founders") to benefit themselves and their family, as shareholders.

From 6 April 2025, the UK will move to a new residence-based system for Inheritance Tax (IHT), marking one of the most significant shifts in the taxation of wealth in recent decades.

With Chancellor Rachel Reeves's first Budget scheduled for Wednesday 30th October 2024, we have set out below, our thoughts on some of the rumoured tax rises required to address the nation's £20 billion deficit.

In this scenario a UK resident individual, let's call him John who was in his early 70's and a widower, found himself facing a significant Inheritance Tax bill.

Among the many rumours surrounding the upcoming 2025 Budget, proposed changes to the UK's Inheritance Tax regime have dominated the headlines.

In the budget of 6th March, Chancellor Jeremy Hunt has presented the much-anticipated Spring Budget for 2024.

Gifting assets during your lifetime can be an effective estate planning tool—but it must be done carefully to avoid unexpected inheritance tax (IHT) consequences.

The objective is to tax profits based on the tax year instead of the profits for the 12 months to the accounting date in the tax year. The changes will take effect from the 2024/25 tax year...

From January 2026, UK taxpayers who use crypto-assets will face new reporting obligations under regulations aligned with the OECD's Crypto-Asset Reporting Framework (CARF).

FICs are companies limited by shares (an "Ltd" or "Limited") and often established by parents and/or grandparents ("Founders") to benefit themselves and their family, as shareholders.

In this scenario, an international private client, let's call him John, a UK resident in his early 70s and a widower, found himself confronted with a substantial Inheritance Tax (IHT) bill.

In yesterday's Budget, the Chancellor Jeremy Hunt, announced several measures under his ‘Four Pillars' of Enterprise, Education, Employment and Everywhere, aimed at growing the economy.

Changes in terms of global tax regulations and increasing international tax transparency are vital to consider when implementing strategies to preserve family wealth and family business ownership structures.

With the festive TV adverts appearing on our screens, thoughts inevitably turn to staff Christmas parties and gifts.

HMRC has announced that the introduction of mandatory payrolling for most Benefits in Kind (BiKs) will be delayed by one year, until 6 April 2027.

Car allowances come with tax and national insurance contributions (NIC) implications.

Mr. Smith has been a client of Dixcart's for many years and he wants to explore the options available to provide financial help to his children, as they get older and start their careers.