Articles30 Oct 2024
Autumn Budget 2024: A surprise swipe at IHT
In her first Budget Chancellor of the Exchequer Rachel Reeves has today taken a swipe at Inheritance Tax Planning with a number of measures:
I want to filter the results again
Articles12 Mar 2024
How to navigate the £500 trust income exemption
The introduction of a £500 income exemption from 6 April 2024 will impact many trusts. It comes with various complications, especially as income within the £500 exemption will still be taxable in the hands of beneficiaries.
Articles6 Mar 2024
Spring Budget 2024: Easing of rules to pay IHT before obtaining “Grant of Probate”
The general rule for executors is that they must pay any IHT due at the end of the 6th month after the date of the death of the person who is leaving a valuable estate (more than £325,000). If the... Read more
Articles11 Aug 2023
Intestacy entitlement increased
If an English or Welsh domiciled person dies without leaving a will, the amount that a surviving spouse or civil partner can inherit as a statutory legacy under the intestacy rules has – from 26 July – been increased from £270,000 to £322,000.
Articles27 Jul 2023
HMRC offers options on undeclared wealth
HMRC is offering taxpayers named in the leaked Pandora Papers a chance to correct their tax affairs. The October 2021 leak involved almost 12 million documents revealing hidden wealth and tax avoidance. The papers revealed that many taxpayers had used... Read more
Articles22 Jun 2023
More estates paying IHT
The combination of a frozen inheritance tax (IHT) nil rate band and considerably higher property values has pushed more estates into the IHT net. The average IHT bill is now nearly £62,000, with much larger amounts payable if an estate includes a property in London or the South East.
Articles10 Jan 2023
Making Tax Digital for Income Tax Self Assessment – postponement
The Government announced a two year postponement
Articles13 Dec 2022
Capital gains targeted in Autumn Statement
Capital Gains Tax (CGT) was targeted in the Autumn Statement