News & Insights

The Chancellor of the Exchequer stood up today to present what he must be hoping was his “end of” or “almost end of” pandemic budget. It is clear that the state of public finances is not at all where Rishi Sunak would wish it to be – at least in normal times.

Today Chancellor Rishi Sunak announced his plan for the second phase of the UK’s economic response to the Covid-19 pandemic.

The big question on many minds is ‘How will the government pay for COVID-19?’

From 6 April, there is a new deadline for paying capital gains tax.

In terms of public spending, the Budget has been completely overtaken by events arising from the Coronavirus pandemic.

It has been confirmed that heritage properties usually open to the public in order to secure conditional exemption from inheritance tax should not view closure due to the coronavirus guidance as a breach of undertaking.

The rules which brought indirect holdings of UK homes of foreign domiciliaries into the inheritance tax net from April 2017 also catch overseas loans made by such individuals to finance UK residential property interests as well as assets.

Before the first incarnation of the UK’s Trust Register has fully bedded in, the government now has to implement changes required by the EU’s Fifth Money Laundering Directive (5MLD).