Start now for next year’s tax return. Our top tips.

I would urge you now to start planning for your next tax return.  Don't leave it to the last minute and avoid all that last minute stress. Recent figures from Her Majesty's Revenue and Customs (HMRC) show that over 93% of people who were required to submit a self–assessment tax return did so by the [...]

2019-04-26T16:45:28+00:00 April 30th, 2019|News|

Are “Care Plans” a good way of capping, care fee costs?

Care Plans or to give them their technical name – Immediate needs annuities. These plans are designed to provide an income for life in exchange for a lump sum investment. The income is paid out regardless of how long the plan holder may live. These type of plans are only available to people who have [...]

2018-09-01T11:48:03+00:00 September 24th, 2018|News|

How to “legitimately” save paying Inheritance Tax

If you have an estate that is worth more than £325, 000, Inheritance Tax (IHT) of 40% is paid on the excess. You can pass on your estate to a spouse or civil partner completely tax-free on death. If you leave it to your children or others, they will not benefit in the same way. [...]

2018-06-06T17:14:09+00:00 May 14th, 2018|News|

Enterprise Investment Scheme. What are they & do you need one?

I am often asked about Enterprise Investment Scheme (EIS). Often people are aware that they are a way of saving tax but are not sure if they are right for them. So here is a simple, straightforward guide. The Enterprise Investment Scheme is a tax- efficient investment that was introduced by the Government back in [...]

2018-04-05T17:20:04+00:00 April 19th, 2018|News|

Financial planning. How to pass on wealth in a prudent way?

With politicians trying to woo the young voters with sweeteners on tuition fees and a boost for Help to Buy. Parents can help now with sound financial planning. There are plenty of ways that parents can do more, from gifting money in a tax-efficient way, to passing on a pension or helping their children with [...]

2018-02-21T15:50:39+00:00 October 30th, 2017|News|

Inheritance tax receipts keep rising. Need you pay?

Exceptionally high levels of stamp duty are reported to be discouraging house sales and in particular discouraging older people from down-sizing. Stamp duty on the sale of a £2 million home will amount to £143,000 and on a £600,000 home to £20,000. The government is also benefitting from increased receipts from inheritance tax (IHT) which [...]

2018-02-21T15:50:47+00:00 September 21st, 2017|News|

Marriage. Is it the greatest tax planning strategy ever invented?

Many financial advisers will claim that marriage is – “The greatest tax planning strategy ever invented”. This might not seem very romantic but is it true? Inheritance tax (IHT) is perhaps the biggest benefit. Unmarried couples can only pass assets to each other free of tax up the value of the “nil rate band” of [...]

2018-02-21T15:51:03+00:00 July 24th, 2017|News|

Tax – Why not use your estate planning exemptions?

No one likes to pay more tax than they should. Below are some of the key exemption to reduce your inheritance tax. So to kick off- Annual Exemption relating to inheritance tax. This allowance did not change at the budget and still stands at £3,000. This can be transferred each year without any tax consequences. If [...]

2018-08-21T17:00:38+00:00 April 24th, 2017|News|

What is an Inheritance tax ( IHT ) threshold?

An inheritance tax ( IHT ) charge only applies if the value of the estate is above the IHT threshold-which is currently £325,000. This is often referred to as the “nil rate band”. You will not pay any IHT if you leave everything to your spouse or civil partner, a charity or sports club. These [...]

2018-02-21T15:51:43+00:00 March 13th, 2017|News|