Summary of the 2024 Budget Pensions To be brought into your estate from April 2027. Depending on your personal circumstances this could mean a tax bill of 40% on your pension. Inheritance tax Nil rate band frozen until 2030 – currently £325,000 plus £175,000 if you own a property and are leaving it to [...]
This guide will give you an indication of the major costs associated with buying your first house or flat in England. The processes and fees for Wales and Scotland are different. We will look at the cost of moving home, your deposit and solicitor fees. This guide will help you budget for these costs to [...]
Exceptionally high levels of stamp duty are reported to be discouraging house sales and in particular discouraging older people from downsizing. Stamp duty on the sale of a £2 million home will amount to £153,750 and on a £600,000 home to £20,000. The government is also benefitting from increased receipts from inheritance tax (IHT) which [...]
Chancellor Philip Hammond delivered his first Spring Statement on 13th March 2018. Below is a summary of the key points from his speech: Spring Statement 2018 Economy The UK economy has grown every year since 2010 and is now expected to grow at the faster rate of 1.5% this year, compared to the forecast of [...]
