IHT: when the 7-year rule becomes the 14-year rulePosted by Ian Henman on February 29, 2024
Inheritance Tax (IHT) planning is more crucial than ever. The tax-free thresholds have remained static for some time, while inflation is pushing increasing number of estates into IHT. Indeed, Inheritance Tax receipts are at record levels and rising. For this reason, many more people are becoming familiar with the 7-year rule to help reduce their
MTD for Income Tax to cost sole traders and landlords £350Posted by Karen Jones on February 26, 2024
HMRC has released figures that estimate how much it will cost sole traders and landlords to implement and comply with MTD for Income Tax.
HMRC does a U-turn on double cab pick-upsPosted by Mark Ingle on February 22, 2024
The government has withdrawn new rules that would have make double-cab picks ups a much more expensive option for company fleets.
Right to Rent non-compliance fines have increasedPosted by Jon Pryse-Jones on February 15, 2024
If you fail to check a tenant’s right to rent or an employee’s right to work in the UK, you could now face significantly higher fines.
HMRC clamps down on unpaid dividend taxPosted by Karen Jones on February 12, 2024
HMRC is writing to business owners it believes have failed to declare and pay dividend tax. We tell you what you need to know.
Contribute to your partner’s retirement and get pension reliefPosted by Jon Pryse-Jones on February 8, 2024
Did you know that you can contribute to a partner’s or child’s retirement fund and get significant pension tax relief? We explain how.
State pension age to rise further?Posted by Ben Locker on February 5, 2024
Soon the state pension age will rise to 67. Yet new research suggests it will need to rise to 71 by 2050. When will you be able to retire?
How to pay CGT the easy wayPosted by Jon Pryse-Jones on February 1, 2024
If you need to pay CGT on items other than property, there are two ways to do it. Surprisingly, many people fill in a tax return needlessly.
HMRC repays £38m in pension taxPosted by Karen Jones on January 29, 2024
In the last quarter of 2023, the taxman repaid £38 million in overpaid pension tax. We help you understand whether you’re due a refund.
Pension tax relief – are you making the most of it?Posted by Jon Pryse-Jones on January 18, 2024
Even though the tax burden is the highest it has been since the Second World War, there’s still one generous tax break – pension tax relief.