Tax season often feels overwhelming, with taxpayers scrambling to complete their returns and dreading hefty bills. Beyond the usual strategies like pensions and ISAs, there are creative and lesser-known ways to reduce your tax liability. These strategies could save you money while ensuring compliance with HMRC regulations. (Read Time: Approx. 4 minutes) Topics Discussed: The… Read more »
Tax season is here, and with it comes the pressure of meeting the Self-Assessment (SA) deadline. The stakes are high: missing the January 31st deadline can lead to significant penalties, interest charges, and long-term financial consequences. Are you ready to face the financial fallout of procrastination, or will you take action to save yourself from… Read more »
HMRC is cracking down on tax evasion involving online platforms like Deliveroo, Just Eat, Foodhub, and Uber Eats, targeting fast food businesses and individuals suspected of underreporting their sales turnover. With the first reports under new digital platform rules due by 31st January 2025, businesses and self-employed individuals have a critical window to get their… Read more »
The New Year is here, and with it comes the perennial duty for self-employed individuals, freelancers, and high earners in the UK: submitting your self-assessment tax return. With the 31st of January deadline fast approaching, now is the time to avoid last-minute stress and financial penalties. (Read Time: Approx. 4 minutes) Topics Discussed: The Self-Assessment… Read more »
Protecting your heirs from burdensome inheritance tax bills is a growing priority for many families. With rising property values and changes in tax regulations, gifting property has become an increasingly popular strategy. However, without proper planning, this approach can backfire. (Read Time: Approx. 4 minutes) Topics Discussed: Why Property Gifting is On the Rise With… Read more »
The inheritance tax freeze and rising property values are dragging over 600,000 landlords into the death tax net, creating a costly problem that could force the sale of rental properties and disrupt the housing market. Here’s how you can counteract these changes before they’re put in place. (Read Time: Approx. 3 minutes) Topics Discussed: The… Read more »
The Chancellor’s Budget announcement that pensions will fall under inheritance tax (IHT) from April 2027 is poised to reshape financial planning for retirees. This significant change could see families paying a “double tax” on pensions, with rates potentially reaching as high as 90% in extreme cases. Here’s what you need to know and how to… Read more »
Rising taxes and tightening relief rules have spurred many families to explore trusts as a solution for inheritance tax (IHT) planning. As the government introduces stricter measures, trust arrangements are gaining popularity among those seeking to protect their assets for future generations. While trusts can be advantageous, they come with complexities and costs that demand… Read more »
Family Investment Companies (FICs) are rising in popularity as powerful tools for high-net-worth families seeking robust strategies for tax efficiency and succession planning. FICs offer a flexible way to manage wealth transfer while safeguarding family assets, making them a favoured structure for those looking to protect their legacy. With their unique benefits, however, come specific… Read more »
The recent increase in Capital Gains Tax (CGT) rates has spurred interest among clients seeking alternative strategies. A noteworthy option gaining traction involves introducing a holding company. If executed with a strong commercial rationale, this approach can minimise immediate tax liabilities while offering long-term financial and tax efficiency. Let’s delve into this solution and its… Read more »
