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The Chancellor has announced that he will issue an Autumn Statement on 22 November. Perhaps it was just coincidence, but a year to the day after Liz Truss was elected Prime Minister, the current Chancellor (and her second) announced that there would be an Autumn Statement on 22 November 2023. In autumn 2022, Ms Truss’s […]
Recent data from HM Revenue & Customs (HMRC) has shown that Inheritance Tax (IHT) receipts for the 2022–23 tax year totalled £7.1bn, up £1bn from the previous tax year. With receipts consistently rising, this significant uplift can be attributed in part to ‘a combination of the recent rises in asset values and the government’s decision […]
Recent data has revealed that inheritance tax (IHT) receipts reached a record level in the 2022/23 tax year. Every month the government publishes data that sets out HMRC’s cash tax receipts in detail. The data issued in late April provided the first set of figures for the sums raised in the […]
The government has announced a new initiative to counter fraudulent activity, particularly in the financial sector. You might not be surprised to learn that fraud is now the most common crime in England and Wales, although you may not be aware that it accounts for more than 40% of all crime. The growth in […]
The Financial Conduct Authority (FCA) has issued a warning on some trust services. An asset protection trust might sound like a good idea if you have assets you wish to protect. Unfortunately, the reality may be rather different, as the FCA made clear in a warning issued in late April. […]
An announcement in late May will herald a fall in gas and electricity bills from July. Remember the Ofgem price cap? A little over a year ago it was the headline grabber, with the news that the so-called utility price cap set by Ofgem would be rising in April 2022 from £1,277 a year […]