UK museums receive £45m of art in inheritance-tax windfall

The Guardian: Works by Van Gogh and Constable among treasure trove of paintings, books and sculptures accepted by government in lieu of tax.

Full story: http://www.theguardian.com/artanddesign/2014/dec/02/uk-museums-45m-pound-inheritance-tax-van-gogh-constable?

CGT on property disposals by non-residents

ICAEW: The new charge will apply to gains from 6 April 2015. The principal private residence election is retained but with some new conditions.

Full story: http://www.ion.icaew.com/TaxFaculty/post/CGT-on-property-disposals-by-on-non-residents?

Non-resident owners of UK homes can seek relief from new CGT charge

STEP: The UK government has published the final version of its plans to impose capital gains tax (CGT) on disposals of UK property by non-resident individuals, trustees, estates and close companies, starting in April 2015. 

Full story: http://www.step.org/non-resident-owners-uk-homes-can-seek-relief-new-cgt-charge

EY enters UK legal market

Law Society Gazette: Accountancy giant EY has been given the go-ahead to offer legal services in the UK as it expands its global law offering.

Full story: http://www.lawgazette.co.uk/practice/ey-enters-uk-legal-market/5045440.article

Retention of Main Residence Relief Election: a step in the right direction

CIOT: The Chartered Institute of Taxation (CIOT) notes the Government’s intention to retain the ability to elect a main residence for relief from Capital Gains Tax (CGT). This announcement means that most taxpayers will be free to elect as before; the election will be restricted only for those who are trying to claim that a property in a country where they are not resident is their main residence.

Full story: http://www.tax.org.uk/media_centre/Press+Releases/PR_main_residence_relief_election_1_Dec?

Tax cupboard is bare, says consultants EY Item Club

BBC News: The EY Item Club is warning Chancellor George Osborne he will struggle to find any room for tax giveaways when he delivers this week's Autumn Statement.

Full story: http://www.bbc.co.uk/news/business-30269018