04 July 2017
Action is needed by trusts to comply with a new requirement for a beneficial ownership register for trusts operated by HMRC. New trusts within the scope will need to register by 5 October 2017 and information on existing trusts must be provided by 31 January 2018.
31 May 2017
Back in the March 2011 Budget, the Chancellor announced a cut in the rate of inheritance tax (IHT) for those leaving at least 10 per cent of their estate to a charity. Since then, statistics show there has been a sharp increase in the amount of charitable donations left in wills with an accompanying rise in the tax relief granted, suggesting that the policy is working as intended. Sadly though, there also seems to have been an increase in family members challenging wills where the family feel they have been disadvantaged as a result of the charitable bequests.
18 April 2017
As we know, the Chancellor was forced into an embarrassing U-turn only a week later on the basis that the 2015 Conservative Party election manifesto had promised no increase in NIC (or VAT or income tax) rates: it is perhaps strange that no advisers pointed this out to Mr Hammond before he made his Budget speech.
17 March 2017
As the end of the tax year approaches, what claims and elections should you consider?
14 March 2017
Some changes in inheritance tax law can affect your will. On 6 April 2017 the first tranche of the Residential Nil Rate Band (RNRB) of £100,000 will be introduced, with further increases up to a maximum of £175,000 by 6 April 2020. The conditions to qualify for the RNRB are such that careful Will drafting is required.
09 March 2017
Additional two per cent National Insurance contributions for the self-employed, including partners of partnerships/LLPs
08 March 2017
Not quite goodbye to the dividend allowance but is it the beginning of the end?
15 February 2017
The pension landscape is constantly changing and navigating the best option to support retirement plans can be tricky, but will the new scheme from the Government help individuals seek the advice they need?
13 January 2017
If you haven’t yet submitted your tax return for 2015/16 it may not be too late to use a charitable gift to reduce your tax bill.