Many financial planners fear that people are paying more tax than they need to because they do not fully understand the rules around withdrawing money from their pension. Firstly, when "pension freedoms" came into force back in April 2015, one of the key changes was the introduction of what is known as "Flexible-Access Drawdown". [...]
So, what is legal and what is not when it comes to estate planning? For a long time, there was a clear distinction between tax avoidance and tax evasion. Tax avoidance, being legal and tax evasion, being illegal. Since the banking crash in 2008, the Inland Revenue has taken strong measures to discourage what [...]
The tax office is very good at highlighting the need to get your tax return submitted by the end of January each year. We cannot miss those television and newspaper ads. But when it comes to the 31st of July, Her Majesty’s Revenue and Customers (HMRC) is very quiet. When is a July tax return [...]
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 to the value of the “nil rate band” [...]
Free downloadable tax rates for 2022/23 This free pdf download of the Tax Rates 2022/23 has all the key tax information you will need for the current tax year. If you would like help with any of your financial planning, why not contact us. Our financial advice is unbiased and independent. Click the tab below- [...]
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 closing [...]
There are many ways to reduce your capital gains tax (CGT) liability. In this article, we will look at some of the most common options available to you. Make the most of your £12,000 (2019/20) annual CGT exemption. A "reported loss" on a "chargeable asset" can be deducted from the capital gains you made in [...]
So what is Inheritance Tax and how does this affect you? Inheritance tax is a tax on your assets that belong to you when you die. Each person can pass on up to £325,000 (£650,000 for a couple) without their heirs having to pay any inheritance tax (IHT). Above this amount, the estate is taxed at [...]
Anstee & Co managing director Caroline Anstee on how financial education can solve the industry’s problems By Amanda Newman Smith 29th September 2017 12:29 pm from Money Marketing. Anstee & Co managing director Caroline Anstee Entering one crossword answer can often help you with those that are linked to it. You may not be able [...]
Intern Philippa Barrett: Week one. By Philippa Barrett, intern at Anstee & Co. After graduating earlier this year in June I wanted to get some work experience under my belt to gain an insight into how the advisor industry works before I begin to pursue my financial career. This week is my first of four [...]
