#Zahawi update: his lawyers have written to me, denying that HMRC investigated him under COP 9, the procedure for investigating fraud. Since they are in such a helpful mood, I'm optimistic they'll answer some further questions. Full correspondence below:
My email:
The Osborne Clarke reply:
And my response:
I have updated my list of Zahawi questions to reflect the COP 9 answer.
Obvious addition: anyone thinking of sending abusive messages to Ashley should ask themselves some pretty fundamental questions.
I publish Ashley’s name because I believe lawyers engaging in SLAPP should be accountable, to the public and to their other clients.
A response from Zahawi's lawyer:
The last time Ashley suggested I contact Zahawi's press officer, it did not go well:
But I am hopeful this time is different, so:
You can bookmark this thread to catch the reply.
But I probably wouldn't bother.
I'm delighted to say I received a response to my questions. The response says that Mr Zahawi is not going to answer any questions:
People bringing court/tribunal cases don't get to be anonymous. Open justice is an important principle, and so your name will be published unless there's a very good reason.
The Budget employer national insurance increase will mostly end up being passed to employees in the form of lower wages and reduced employment. A thread on why I'm disappointed by the Budget, and why this chart makes me sad.
A longer version of this thread here: , with links to references, sources, and the spreadsheet generating the charts. taxpolicy.org.uk/2024/11/21/the…
Some of the worst features of the UK tax system are the product of short term political expediency:
A horrible mess for some private school parents who paid fees in advance to try to avoid Labour's VAT hike. And it's entirely the fault of the private schools and their associations.
A quick thread on how to avoid VAT successfully, and how the schools didn't..
We warned back in May that private schools were encouraging parents to pay in advance to avoid Labour's VAT hike, but structuring these schemes *really badly*.
We said that, under usual VAT principles, there was a high risk these schemes would fail, and parents *would* end up paying the VAT. taxpolicy.org.uk/2024/05/09/pri…
The problem was that most of the schemes weren't *really* paying fees in advance. They looked more like putting money on deposit, to be used to satisfy future fee demands. And that doesn't work.
The Country Land and Business Association says the new £1m cap on agricultural inheritance tax relief will "harm 70,000 farms". That's 1/3 of all farms.
What does the actual data show? Less than 500 farms/year will be pay more tax as a result of this change every year. Possibly as few as 100.
Why 500? Because this table shows only 500 farm estates claimed agricultural property relief (APR) of more than £1m in 2022.
But that overstates the issue. Married couples can easily claim the £1m cap twice. Small farmers without other assets can use their nil rate band. So for a married couple running a farm, it could be worth £2.65m before the restriction on the relief costs them a penny.
Lots of over-the-top coverage right now about the £1m cap on inheritance tax agricultural property relief (APR).
Quick thread:
Background: if I'm a landlord with a portfolio of properties, or an investor with a portfolio of listed shares, when I die my estate pays 40% inheritance tax (IHT). Until now, APR meant that agricultural estates were completely exempt from IHT.
The Budget caps the exemption at £1m. Beyond that, IHT applies to agricultural property at half the usual rate - so 20%.
There isn't one. There's no single legal definition of "tax avoidance". If there was, life would be easy: we'd pass a law saying that if you do tax avoidance, you lose, pay lots of extra tax, and maybe go to jail as well.