There are some specific strategies to help protect your family’s assets, building on last week’s general tax planning advice. Here are some essential actions you can take to mitigate your inheritance tax burden under the new rules following the 2024 Budget. (Read Time: Approx. 4 minutes) Topics Discussed: Changes Following the Budget 2024 Rachel Reeves… Read more »
Stamp Duty Land Tax (SDLT) is an important consideration for anyone purchasing property in England and Northern Ireland. Understanding the specifics of how SDLT applies to residential dwellings can help avoid unexpected costs and ensure compliance with the latest regulations. (Read Time: Approx. 4 minutes) Topics Discussed: SDLT Rates and Applicability SDLT is a tax… Read more »
The latest UK budget introduces significant shifts for employers, taxpayers, and investors, with changes in National Insurance, inheritance tax reliefs, and new taxes for non-domiciled residents. These adjustments, set to start from April 2025, will affect both small businesses and individual taxpayers, presenting new financial planning challenges and opportunities. (Read Time: Approx. 4 minutes) Topics… Read more »
The latest UK budget introduces significant shifts for employers, taxpayers, and investors, with changes in National Insurance, inheritance tax reliefs, and new taxes for non-domiciled residents. These adjustments, set to start from April 2025, will affect both small businesses and individual taxpayers, presenting new financial planning challenges and opportunities. (Read Time: Approx. 5 minutes) Topics… Read more »
In a decisive move, HMRC has escalated its enforcement efforts against fraudulent Research and Development (R&D) tax relief claims. Recent months have seen a wave of dawn raids and arrests targeting unscrupulous advisors suspected of enabling businesses to submit fraudulent claims. This crackdown serves as a stark reminder for businesses to ensure full compliance with… Read more »
When it comes to inheritance tax (IHT), landlords often encounter complicated regulations and uncertain tax burdens. Recent speculation about potential changes to IHT and capital gains tax (CGT) makes this even more pressing. Some advisers may suggest strategies that claim to shelter property shares from IHT entirely, but this is rarely achievable. The truth is… Read more »
With private school fees on the rise and the anticipated removal of VAT-exempt status in 2025, families across the UK are looking for ways to manage these increasing costs. While there’s no direct tax relief for private education, there are several strategies that can reduce the financial burden, including intergenerational gifting, family businesses, and tax-efficient… Read more »
The landscape of tax relief claims is changing rapidly, with HMRC implementing new requirements for PAYE employment expense claims to tackle ineligible submissions. This blog provides a clear overview of these updates, outlining what you need to know to stay compliant with the evolving rules. (Read Time: Approx. 4 minutes) Topics Discussed: Understanding the Shift… Read more »
The UK’s car market experienced a notable rise in September, with the spotlight shining brightly on electric vehicles (EVs) and hybrid vehicles. New figures highlight a significant uptick in demand, marking a record-breaking month for battery electric vehicle (BEV) sales. (Read Time: Approx. 4 minutes) Topics Discussed: UK Car Market Rebounds with Record EV Sales… Read more »
With Labour pledging not to raise Income Tax, National Insurance, or VAT, speculation is rife about how Chancellor Rachel Reeves will address the £22bn shortfall in the Autumn Budget. One likely target is Capital Gains Tax (CGT), which could see higher rates or rule changes to catch more taxpayers, particularly property owners and investors. (Read… Read more »
