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Capital gains tax and divorce

When the breakdown of a marriage occurs, tax considerations are likely to be the last thing on the parties’ minds. However, the potential benefits which can arise from tax planning cannot be ignored, especially where it can be demonstrated that both of the parties...

Averaging profits for farmers

Farmers and market gardeners in the UK may obtain relief by averaging the profits of consecutive years. Full averaging relief can be claimed where the profits of one tax year are 75% or less of the profits of an adjacent year.   Averaging options Finance Act...

Brexit: Summary for VAT impacts

The UK exited the EU VAT regime, Customs Union and Single Market from 1 January 2021. This means the loss of a range of compliance simplifications and the imposition of customs declarations, goods regulations, services and import VAT. A Brexit Trade and Cooperation...