Forbes Dawson

Who were the Budget's inheritance tax (IHT) winners?   Sweeping reforms to IHT in Chancellor Rt Hon Rachel Reeves’ October Budget have been the subject of controversy. However, there are some groups of individuals who may actually benefit from the changes.   In our latest Tax Bite, we reveal the beneficiaries of Labour’s new policies.   #Tax #TaxAdvice #TaxPlanning #InheritanceTax #IHT #IncomeTax #CapitalGainsTax #Budget #Business #Farming #ExPats #UKResident #Assets #Pension #Finance #Wealth #Money

Construction work can be subject to stamp duty land tax (SDLT)   Entering into a lease with an obligation to build a property on the land can be subject to SDLT. However, there are sometimes ways to prevent this being the case.   In our latest Tax Bite, we explain how careful structuring of the contract could result in a better outcome.   #Tax #TaxAdvice #TaxPlanning #StampDutyLandTax #SDLT #Construction #Property #Lease #Business #Money #Wealth #Finance 

Our Ivy Christmas dinner; unbelievable food and company! We wish all our clients, colleagues and contacts a very Merry Christmas and all the best for the year ahead...

With parents desperately trying to pass the family home to their loved ones to avoid inheritance tax, Forbes Dawson managing partner Andrew Marr spoke with the The Daily Telegraph to explain the potential benefits of this type of tax planning.   The article was also shared by global news outlet Yahoo Finance.   Many thanks to Tom Haynes for including Andrew’s thoughts.   #Tax #TaxPlanning #TaxAdvice #InheritanceTax #IHT #Property #Family #Death #AutumnBudget2024 #CapitalGainsTax #Finance #Wealth #Money

Section 455 tax loophole closed in the Budget   While inheritance tax changes continuing to be a national talking point, Chancellor @Rachel Reeves MP’s decision to close a section 455 tax loophole in corporation tax seems to have somewhat slipped under the radar.   In our latest Tax Bite, we outline the new rules, including why rulings from the General Anti-Abuse Rule (GAAR) panel can create tricky dilemmas for HMRC when decisions do not go their way.   #Tax #TaxAdvice #TaxPlanning #Budget #CorporationTax #Section455 #GeneralAntiAbuseRule #Shareholder #Business #BusinessOwner #Entrepreneur #Dividend #Loan #Money #Wealth #Finance

The new allure of EIS as an alternative to pensions   Following the Government’s decision to apply inheritance tax to pensions from 2027, many older people are considering options to protect their family’s wealth.   In our latest Tax Bite, we look at the benefits and risks of withdrawing funds from pensions to invest in Enterprise Investment Schemes (EIS), including the possibility of pensioners joining forces to form EIS companies.   #Tax #TaxAdvice #TaxPlanning #Pensions #Budget #InheritanceTax #IncomeTax #EnterpriseInvestmentScheme #BusinessRelief #Investments #Family #Death #Money #Finance #Wealth

Dying in Dubai could wipe out inheritance tax on a pension    Forbes Dawson managing partner Andrew Marr spoke with the The Daily Telegraph for two articles published over the weekend.   The stories were also shared by MSN, one of the world’s most-read news websites, and several German titles.   Many thanks to Rob White for the opportunity to contribute.   #Tax #TaxAdvice #TaxPlanning #InheritanceTax #Pensions #Dubai #UnitedArabEmirates #Budget #RachelReeves #Family #Death #Wealth #Money #Finance

With businesses facing tough challenges following the recently announced increase to employers' National Insurance, Forbes Dawson partner Tim Shaw spoke with FT Adviser, part of the Financial Times, about how firms could mitigate the impact of the new rules.   Many thanks to Chloe Cheung for including our comments.   #Tax #TaxAdvice #TaxPlanning #EmployersNationalInsurance #NationalInsurance #Business #Finance #Money #Wealth #Budget

Pension IHT advantages of going to Dubai to die   With pensions set to be heavily taxed from 2027, many Britons are understandably concerned about their loved ones’ financial futures.   In our latest Tax Bite, we explore whether living out your last days in a country like Dubai could potentially wipe out the tax liability upon death.   #Tax #TaxAdvice #TaxPlanning #InheritanceTax #Dubai #Pensions #AutumnBudget2024 #NilRateBand #Death #Family #MiddleEast #Finance #Money #Wealth

Don’t give up on EMI schemes too quickly!   Enterprise Management Incentive (EMI) schemes can incentivise employees with share-based rewards, but companies must qualify to take advantage of these benefits.   In our latest Tax Bite, we explain the rules around EMI schemes and how people often misunderstand the gross assets test.   #Tax #TaxAdvice #TaxPlanning #EMI #EnterpriseManagementIncentive #Shares #Business #Companies #BusinessOwners #Entrepreneurs #Assets #Employee #Accountancy #Finance #Wealth #Money