Brexit changes for UK residents with EU properties

Following our previous blog on the personal tax impact of Brexit, it seems those who own property in France or Spain may be particularly affected by Brexit.

The Scottish Budget 2021-22

The Scottish Budget for 2021-22 has been delivered but what does it mean for the Scottish taxpayer?

Could Wealth Taxes be an option to pay for the COVID-19 deficit?

The Wealth Tax Commission have now published their final report which considers whether a UK Wealth Tax should be introduced, and if so, how this could be applied. Although the Chancellor was quoted in July 2020 as dismissing the introduction of a Wealth Tax, the deficit as a result of the COVID-19 pandemic has continued to increase and six months on the country is back in a state of lockdown with much of the economy closed for business. The Commission have estimated that a one off Wealth Tax could raise one-quarter of a trillion pounds.

The clock is ticking, don't be late! File your 2020 Self-Assessment Tax Return on time

*Updated 26 January 2021*

Do you find yourself with an over or underpayment of tax every year?

If the answer is yes, let me ask a second question. Have you ever had a professional tax advisor check your tax codes? Now is the time.

Is a new wealth tax coming?

The public spending requirement to deal with the consequences of COVID-19 has been without precedent and there is debate about how to rebuild public finances. The pandemic has exposed ever widening inequalities in society and calls for a tax on wealth are being pushed up the political agenda. An initial paper about whether to introduce a wealth tax has recently been published.

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