Money, tax, and debt law in the UK is a legal framework that sets the rules for how individuals and businesses should handle money matters responsibly.
Key legislation includes the Income Tax Act 2007, covering individual and business tax, the VAT Act 1994 for goods and services taxation, and the Consumer Credit Act 1974 regulating consumer credit agreements. The Finance Act 2000 also addresses various financial matters, like income tax, corporation tax, and stamp duty, while Money Laundering Regulations aim to prevent illicit financial activities.
The law relating to money, tax and debt changes regularly. A money, tax, and debt solicitor can help with tax planning, debt management (like negotiating with creditors), financial disputes, compliance with financial regulations and tax laws, money laundering regulations and drafting contracts such as loans agreements.