New super-deduction for equipment
In the Budget on 3 March, the Chancellor announced a new 130% tax relief for expenditure on new plant and machinery incurred between 1 April 2021 and 31 March 2023.
Passing on the family home: IHT relief
One recent change that should be taken into consideration when drafting your Will is the additional Inheritance Tax nil rate band for passing on the family home to ‘direct descendants’ on death.