Differences between exchange and completion
In short, an “exchange” is an exchange of contract whereby the buyer and seller are legally obligated to proceed with the sale of the property. Whereas “completion” takes place after the exchange of contracts. At this point, the buyer receives the keys to their new home and the seller transfers the remaining funds to them. […]
A Guide to Wills and Remarriage I Thomas & Thomas
Did you know that the ONS Government’s most recent figures on marriage and divorce show that the number of people remarrying in the UK has remained largely the same since 2019? In fact, the number of people who marry more than once remains quite high. More than 14% of marriages involved the remarriage of both […]
Case: Non-domiciled investment banker loses appeal against £675,000 tax bill over director loans
Non-domiciled investment banker loses appeal against £675,000 tax bill over director loans Mr The investment was intended to qualify for business investment relief, making it exempt from tax. Business Investment Relief (BIR) is a potentially valuable tax relief for UK taxpayers, particularly non-doms, who have used or are currently using the remittance basis. The BIR […]
What is approval? I Thomas & Thomas Lawyers
In the first three months of 2023, the Family Court saw 69,208 applications for the grant of probate, up 12% from the first quarter of 2022. The court notably managed to grant more than 50,000 approval grants during this period. Additionally, an unprecedented 89% of applications and 90% of grants were processed digitally, signifying the […]
Watch out for the gaps: small businesses bear the brunt of the tax deficit
Introduction It appears that small businesses may be causing a tax deficit, with a recent problem of Age of Accounting highlighting that around 60% of the UK’s tax gap for 2022-23 was attributed to small businesses. The tax gap, for those who don’t know, is the difference between the taxes actually collected by HMRC and […]
A guide to civil litigation
Are you facing a disagreement or legal problem? We know that dealing with legal matters can seem overwhelming, especially if you are unfamiliar with the world of law. In the first three months of 2023, 443,000 civil lawsuits were filed in the county court, the highest number in three years, according to Civil Justice data. […]
High incomes and moving abroad
The changing tax landscape in the UK: high earners and the exodus abroad Introduction In recent years, the UK has seen a significant change in its tax landscape. There are now 2.8 million more taxpayers compared to 2010. This change has concentrated the tax burden on a smaller segment of the population, with more than […]
A guide to some of the most notable British legal cases
In the ever-changing landscape of the UK legal system, certain cases shape the course of legislation and set crucial precedents for future judgments. Join us as we take a look at some of the UK’s most notable legal cases. By delving into these legal battles from recent history, we offer insight into the intricacies of […]
HMRC investigations
Make sure your taxes are dotted and t’s crossed, as HMRC investigations are increasing. Over the past year, HMRC has significantly increased its tax investigations, opening around 250,000 new investigations. Many of these requests have targeted high net worth individuals (“HNWIs”) and small businesses. Using cutting-edge technology and artificial intelligence, HMRC can now identify potential […]
What is co-ownership? – Thomas & Thomas Avocats Ltée
In this blog, we’ll explore the intricacies of joint real estate ownership, particularly the difference between “joint tenancy” and “tenants in common,” and how these choices can profoundly affect your ownership experience. Did you know that there are significant legal and financial differences between the two? How does a co-ownership work? Land ownership can be […]