Something Sir Humphrey about it being announced in this that there will be a review of the Office of Tax Simplification. [appreciate #OTS is reviewed under statute]
The government is publishing a summary of responses to the 2018 consultation ‘The Taxation of #Trusts: A Review’.4 The responses did not indicate a desire for a comprehensive reform of trust tax at this stage.
The government will keep the issues raised under review.
#TaxDay simply confirms position as announced in #Budget2021 on social investment tax relief #SITR
#TaxDay #incometax: The government is publishing a call for evidence to begin to explore the opportunities and challenges of more frequent payment of
income tax within Income Tax Self Assessment.
#TaxDay regulation of tax advice: Govt to seek views on definition of tax advice & a requirement to make professional indemnity insurance compulsory for
tax advisers, with a view to improving tax advice & providing taxpayers with better access to redress where bad advice
#TaxDay & #IHT:Reporting regulations will be simplified later this year so that from 1 January 2022 over 90% of non-taxpaying estates each year will no longer have to
complete inheritance tax forms for deaths when probate or confirmation is required. #inheritance tax
Dormant assets@ #charities & #socent: – Further commitment that the government will make changes in a future Finance Bill to facilitate the inclusion of the asset groups that will be in scope of the expanded scheme. This relates to Capital Gains Tax and pensions tax legislation.
#TaxDay: not seeing much exciting about pensions. Interesting given what @CommonsTreasury said when calling for @RishiSunak to review urgently. Many will be relived Tax Day seems quiet on this front
#TaxDay & #trusts: "Many stressed the positive role trusts play in society...trusts are often the most appropriate legal mechanism for passing on, or managing and protecting, wealth & assets." Here's my talk today for @LawscotCPD on trusts for vulnerable ……

• • •

Missing some Tweet in this thread? You can try to force a refresh

Keep Current with Scottish Charity & Wealth Law

Scottish Charity & Wealth Law Profile picture

Stay in touch and get notified when new unrolls are available from this author!

Read all threads

This Thread may be Removed Anytime!


Twitter may remove this content at anytime! Save it as PDF for later use!

Try unrolling a thread yourself!

how to unroll video
  1. Follow @ThreadReaderApp to mention us!

  2. From a Twitter thread mention us with a keyword "unroll"
@threadreaderapp unroll

Practice here first or read more on our help page!

Did Thread Reader help you today?

Support us! We are indie developers!

This site is made by just two indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member ($3/month or $30/year) and get exclusive features!

Become Premium

Too expensive? Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal Become our Patreon

Thank you for your support!

Follow Us on Twitter!