Chancellor Rachel Reeves agreed to extend the IHT threshold freeze for another two years to 2030 – meaning more people will now likely pay IHT in the future. Reeves confirmed she will bring most pensions into the IHT regime from April 2027. Here are three tax breaks which could save your family tens of thousands...Read More

Inheritance tax can be a significant concern when planning your estate, but there are strategic ways to minimise its impact. An effective method of reducing IHT is to gift assets to your grandchildren during your lifetime. Here’s how you can leverage this approach to reduce your inheritance tax liability: Understand the Basics of Inheritance Tax...Read More

In her first speech as chancellor, Rachel Reeves reinforced Labour’s pledge that there would be no rises to National Insurance (NI) or value added tax (VAT). There was no mention of changes to income tax or capital gains tax though. These weren’t mentioned in Labour’s manifesto either. That means for now, income tax rates should stay where...Read More

If you’re earning between £100,000 and £125,140, the tapering of the personal allowance means you could end up paying 60% tax. Tax regulations can change frequently and even if you’re more informed than most of us are, it’s easy to misinterpret the rules, and end up make some expensive mistakes. Especially if you walk into...Read More

A cut to National Insurance (NI) in the autumn statement appears good for struggling budgets. But in reality we’re still set for a post-war tax burden high, and this barely makes a dent. Thresholds for income tax as well as NI have been frozen and are set to remain the same until 2028 – with the additional...Read More

The conservatives are considerig reforms to inheritance tax (IHT) in a bid to shore up voter support ahead of next year’s general election. Some of the ideas include cutting the 40% headline rate and scrapping IHT altogether. The final decision lies with the Chancellor of the Exchequer Jeremy Hunt, who’s unlikely to announce any concrete...Read More

Being tax efficient around Inheritance Tax is something that investors should consider and plan out in advance. UK families have paid an extra £600 million in death duties after missing out on tax reliefs? The Government were expected to have raised £6.7 billion in 2022 from Inheritance Tax. Inheritance Tax Inheritance Tax is a tax...Read More

Jeremy Hunt has made some significant changes to pensions in his spring budget yesterday. The changes bring the wind back into the sales of high earners who’ve pulled away from contributing somewhat so as not to exceed lifetime allowance. The changes are below: Lifetime Allowance The lifetime allowance itself is set to be abolished from April 2024,...Read More

Basic-rate tax relief is collected automatically, but if you’re a high earner you will need to claim your extra tax relief through self-assessment. You can claim tax relief for the last four tax years which can have a huge impact on how much you end up with in retirement. You can also let HMRC know...Read More

January is a great time to review your finances and make sure everything is running smoothly. With high inflation and taxes on the rise, the changes you make today could have a significant impact on the health of your finances in this year and beyond. Here are some financial resolutions that could help you commence...Read More