During his first few months as Prime Minister, John Major famously expressed a desire to see wealth “cascading” down through the generations. “We do not see each generation starting anew, with the past cut off and the future ignored,” he told his party’s conference. Fast forward to the present day and the assumption made by…
According to research commissioned by the BBC, around 5.5 million Britons – roughly one in ten of the population – are currently living permanently abroad. Many live in Europe, of course, but Britain’s diaspora is spread across the world. The US, for example, has attracted more than 600,000 Brits and Australia is home to 1.3…
The Enterprise Investment Scheme (EIS) has been with us since 1993 and no one can deny that it has had a major impact on the willingness of individuals to support high risk, but potentially very high reward small and medium-sized companies. When HMRC totted up the figures for a report published in May 2018, around…
The annual party conference is usually an occasion for broad brush strokes of policy. Nothing too detailed. Nothing that is likely to cause controversy in the media or divisions among the party faithful. This year’s conference season in many respects conformed to that template. Dominated by Brexit, superhuman efforts were made at both the…
September 30 is a key date for anyone with overseas assets that may be taxable in the UK as HMRC has made it the deadline for disclosure. Disguised remuneration schemes must also be declared by the same day. This month’s deadlines illustrate the importance of good tax advice. Most taxpayers probably have January 31st circled…
It’s easy to take something for granted once it has become part of the furniture. Take the Enterprise Investment Scheme (EIS). Introduced in 1994, the scheme was intended to encourage equity investment in small companies. As the Government minister in charge back then, Michael Portillo put it: “The purpose of Enterprise Investment Schemes is…
There was a time when the start of Spring was heralded by the Chancellor’s Budget, a major political and economic event. These days the Chancellor offers two Budget statements – one in Autumn and the other in Spring, with the former containing all the major policy announcements and tax changes. The March event has…
In terms of taxation, the first few months of any given year are a time to look forward and backwards. For those completing a self-assessment form ahead of the January 31 deadline, all thoughts are on the previous tax year. With that job done, dusted and signed off, the next big milestone is April 6…