TalkTax

This blog considers the likely consequences if Gift Duty were to be abolished.  The Government has recently announced that such a move is being considered.  Every practitioner should be aware of this possible shift, as it is likely to have an impact on just about every individual they advise. The Government has said that a period of consultation will be undertaken, and if Gift Duty is to be abolished, the proposal will be contained in a Bill to be released in November 2010.

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When you think your relationship can’t get any worse, and you’ve given until it hurts, you can then find yourself with a gift duty assessment…

With the Government Tax Policy Work Programme having confirmed that further legislative exemptions from gift duty are under consideration, it is perhaps timely to review relationship property agreements and gift duty, an area where gift duty and filing obligations are often over-looked or misunderstood. Read more

Unlike the naked Archimedes’s joyful exclamation, the recent exposé of the Eureka Trust comes as a more serious warning for those working in the charitable sector. Charities never need to bother with tax issues do they? Actually, yes…

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