Residency Based IHT

oriontaxApr 1, 2025
Residency Based IHT

From 6 April 2025, the UK’s Inheritance Tax (IHT) system will shift from being based on domicile to being determined by residency. An individual will be liable for IHT on their global assets if they are considered a long-term resident.…

Clampdown on IHT Reliefs

oriontaxApr 1, 2025
Clampdown on IHT Reliefs

The government has announced Inheritance Tax (IHT) reforms to Agricultural Property Relief and Business Property Relief, effective from 6 April 2026. Currently, qualifying business and agricultural assets can receive up to 100% relief thereby fully protecting family farms and businesses.…

MTD – No Turning Back?

oriontaxApr 1, 2025
MTD – No Turning Back?

From 6 April 2026, self-employed individuals and landlords earning £50,000 or more must report their income digitally. Further phasing for those earning as little as £20,000 is now also on the cards. First announced in 2015, Making Tax Digital (MTD)…