Tax tips newsletter for professionals

The 2025/26 tax year started on 6 April 2025, and a new tax year means a new set of tax-free allowances. 

Sarah Bradford explores how clients can maximise tax-free income in 2025/26 by making use of their allowances.

A key element in any estate plan is the need for a will; a will allows a deceased to distribute their estate as they wish and, where possible, to mitigate any inheritance tax (IHT) charge (at 40%) on their estate on death.

Malcolm Finney compares two important post-death arrangements.

An asset protection trust (APT) is a trust intended to protect assets of the settlor against unreasonable, unjustified or greedy creditors or other persons. 

Jon Golding looks at different types of trust that can give protection and tax benefits to beneficiaries.

The basic rule is that the place of supply of goods is where the goods are located at the time the goods are allocated or supplied to the customer. So, if the goods are in the UK and the customer is in the UK, the sale is subject to UK VAT. 

Andrew Needham looks at the place of supply of goods and where VAT is due.

Mark McLaughlin reviews two recent important tax cases:

Under the self-assessment regime, HMRC is supposed to get just one opportunity to enquire into a tax return, and a limited timeframe in which to do so (e.g., TMA 1970, s 9A). 

Lee Sharpe notes that when HMRC states it has discovered that tax has been underpaid, HMRC is often quite wrong.

When an individual sells shares in their owner-managed company, any gain is subject to capital gains tax (CGT). When calculating the total amount of consideration receivable, this includes any value received in money and money’s worth, which may not always be cash. 

Joe Brough details the capital gains tax implications when an individual receives deferred consideration on the sale of their business and how tax relief is claimed when it becomes irrecoverable.