Tax

Whilst many cryptoasset investors describe themselves and their peers as having “diamond hands”, it may be of note to these individuals that some of those diamonds will be of interest to the UK taxman.

Inheritance tax (IHT) receipts hit £600 million in April 2023, according to the latest data released by HMRC.

Michael Thomson, former chief executive of investment firm London Capital & Finance, has been handed a 10 month sentence, suspended for two years, after breaching a restraint order imposed on his bank account.

Inheritance tax (IHT) receipts from April 2022 to March 2023 were £7.1 billion, £1 billion more than the same period a year earlier.

UK entrepreneurs have made £11.8 billion from selling their businesses last year, research by Bowmore Asset Management showed.

Flats and maisonettes are attracting the highest average prices in the £1 million plus residential property market as demand for advice on inheritance tax issues (IHT) continues to grow, according to analysis from Investec Wealth & Investment.

Chase Buchanan Wealth Management has formed a partnership with Your Overseas Home in an effort to create a knowledge base of webinars for expats.

I am just back from a few days in Jersey. Branded a ‘tax haven’ by much of the media, many would assume tax would be a large focus of the financial services industry on the island.

The Hong Kong government has announced further measures to attract family offices. 

Over two-thirds of wealthy investors intend to invest more into tax efficient investments, such as Venture Capital Trusts (VCTs), the Enterprise Investment Scheme (EIS) and the Seed Enterprise Investment Scheme (SEIS), according to a survey from HNW investment platform Wealth Club.