The introduction of the “residence nil rate band” with effect from 6 April 2017 is arguably the most significant development in the inheritance tax legislation since 2007 when the then Labour Government permitted the “standard” nil rate band to be transferred to a surviving spouse or civil partner.
Making Tax Digital has been described as the biggest change in the way tax is assessed and collected in the UK in a generation with the Treasury allocating some £1.3bn to implementing it . This massive project was due to start in April 2018 with compulsory online filing of quarterly returns for many business owners and private landlords.
The South West tourism and leisure industry looks set for increased visitors throughout the 2017 holiday season, with more holidaymakers planning to stay in the UK rather than travel abroad. According to research carried out by Barclays Bank, over a third of British holidaymakers are planning to holiday at home this year, as the weakening pound and the risk of terror attacks deter foreign travel. In addition, the weather forecast for the summer is looking very promising.
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