News & Blog

The latest press releases and opinion from Bishop Fleming

Queen’s Speech June 2017

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The Queen’s Speech on 21 June 2017 set out what the government plans to do over the next two years and in particular on Brexit. Eight of the twenty four draft bills in the Speech relate to the UK's…

General Election result – what now on tax and Brexit?

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With a hung parliament after the general election, what is now likely to happen on tax and Brexit? [NOTE: this article has subsequently been updated, taking account of post-election events] With the results in from…

New relaxed Stamp Duty rules for Wales?

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Land transactions in the UK have been subject to Stamp Duty Land Tax (SDLT) since 2003, but we now have different regimes for Scotland and Wales. Devolution has seen a separate tax charged (Land &…

General Election – tax promises

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With a general election on 8 June 2017, the main political parties have published their manifestos. We take a look at what each are saying on tax. If there is a Conservative government after the election,…

Digital tax plans put on hold

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The government's plans to digitalise the tax system and force business from April 2018 to make quarterly online returns have been dropped, due to the general election. Top 40 accountants Bishop Fleming welcomed the move,…

Tax changes sacrificed ahead of General Election

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A number of key tax changes announced in the Spring Budget have been sacrificed by the government at the last moment, as there was no time to bring them into law before the 8 June General Election. The legislative…

Probate fee rises scrapped

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Controversial plans to increase probate fees are to be scrapped due to the general election. They had been set to rise in May 2017 from as little as £155 up to as much as £20,000 for some…

Investing in a new Lifetime Individual Savings Account

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Since 6 April 2017 an individual aged between 18 and 40 can invest up to £4,000 a year into a new tax free Lifetime Individual Savings Account (LISA). This forms part of the overall maximum…

Inheriting the family home

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Inheriting the family home is becoming less expensive due to a new inheritance tax (IHT) relief for residences which was introduced in April 2017. The relief is flexible enough to allow a person to downsize to…

A Grand Tax Grab – tax office overcharging by up to £1000

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Top 40 accountants Bishop Fleming branded a tax office foul up as “Making Tax Diabolical”, after it was revealed that it was grabbing an extra £1,000 from taxpayers in error. Red-faced officials at HM Revenue…