Chancellor Rachel Reeves should revisit abandoned proposals to simplify the UK’s complicated tax system, says DONALD PARBROOK In light of recent economic shifts, including trade uncertainty and fiscal tightening, the Chancellor is widely expected to use the Autumn 2025 Budget to pursue further significant tax reforms. This could include building on earlier changes to inheritance […]
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Take the worry out of key tax changes
Rushed decisions on IHT liabilities could prove costly, writes MARK PRYCE It used to be the case that entrepreneurs and business owners could transfer over their longstanding commercial legacies to the next generation without the fear of a huge cash tax bill on their death. Changes announced by the Chancellor have not only caused widespread […]
Avoid rash decisions over IHT changes
New rules on IHT relief are causing some concern, but there is no need to panic, says TINA BISHOP Business owners and shareholders planning to gift shares to their children because of impending inheritance tax (IHT) changes should press the pause button and avoid rash decisions they may later regret. Changes to the IHT relief […]
Get ready for new real-time rules
Changes in payroll reporting are on the horizon and businesses need to prepare, says MARK PRYCE Thousands of Scottish businesses are probably unaware of the implications of new real-time payroll reporting rules that are set to come into force in less than 15 months, in particular the extra cash flow pressures and administrative costs that […]
Don’t forget to prepare your exit plan
Business owners must avoid losing value when the time comes to sell, says GRAHAM CUNNING Winning orders, tackling costs, planning expansion and hiring talented staff will help keep a business owner’s growth plans on track. But one other issue has to be factored into the forward plan – when and how to exit, and at […]