Could the IHT seven-year rule on gifts be cut to five?

At present, when someone dies within seven years of passing on money, property or possessions to loved ones, tax of up to 40 per cent must be paid.

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Could the IHT seven-year rule on gifts but cut to five?

At present, when someone dies within seven years of passing on money, property or possessions to loved ones, tax of up to 40 per cent must be paid.

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HMRC issue incorrect CGT allowance to thousands of taxpayers

HM Revenue and Customs (HMRC) has recently issued nearly 350,000 incorrect short tax returns, indicating an error in taxpayers’ capital gains allowance.

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HMRC refunds £1.8 million child benefit tax penalties

HM Revenue and Customs (HMRC) has issued £1.8 million in refunds after reviewing cases where families were hit with penalties for failing to register for a charge relating to their child benefits.

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HMRC backs down from pension tax case

HM Revenue and Customs (HMRC) has recently withdrawn an appeal in a key court case over a 55 per cent charge it wanted to levy.

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Are you aware of the inheritance tax risks associated with gifting?

According to new research conducted by the National Centre for Social Research (NatCen) and the Institute for Fiscal Studies (IFS), only one in four people who make financial gifts are aware of the inheritance tax (IHT) risks.

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Workers could be missing out by not checking personal tax accounts

According to the latest research from the Post Office, just under half (46 per cent) of workers have never checked their personal tax accounts.

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Shakira to face tax fraud accusation in Spanish court

The Colombian singer, Shakira whose estimated wealth is £176 million, is being investigated on suspicion of committing six separate counts of tax fraud against the Spanish Treasury totalling more than £12.5 million (€14.5 million).

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Can you save more than £355 on this year’s self-assessment?

Self-employed taxpayers may be failing to claim on average £1,687 in tax-deductible expenses, a new report has revealed.

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HMRC issue reminder over Self-Assessment tax returns

HM Revenue and Customs (HMRC) have issued a reminder that taxpayers have less than a month left to complete and submit their Self-Assessment tax returns.

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