HMRX Nets £254m from Inheritance Tax Investigations

Taxpayers are exempt from Inheritance Tax (IHT) if the value of their estate is below a threshold of £325,000, or £650,000 under a joint allowance, or if the estate is left to a spouse, civil partner, a charity or a community amateur sports club. In the wake of massive pandemic-related spending, HMRC netted £254m in

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Budget – Autumn 2021

It has only been six months since the Chancellor last stepped up to the dispatch box to deliver a Budget.  Much has changed in that time.  Energy price rises, global supply chain issues, and rising demand, prompted by the easing of coronavirus restrictions have caused inflation to hit levels not seen in a decade.  With

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Making Financial Gifts

Making a gift to your family and friends while you are alive can be a good way to reduce the value of your estate for Inheritance Tax purposes, ensuring those closest to you benefit from a lifetime of your hard work. Estate and tax planning is a complex area and professional financial advice can help

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Probate is getting easier…

Each year around 25,000 estates in the UK have to pay Inheritance Tax (IHT), but a further 250,000 also have to jump through onerous and time-consuming hoops to establish that they do not.  The job of gathering every last detail of a friend or relative’s financial affairs, requiring as many as 25 different forms to be completed, is a real labour of love.  However,

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Wills are not just for old people

“I’ll do them when I am older.”  If I had a pound for every time that I had heard that phrase when asking about Wills, then I would be significantly more wealthy.  Unfortunately, as we all know, there are only 2 certainties in life – and suddenly taxes seem the more appealing. As the pandemic

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Reasons Why You Need A Shareholder Agreement

When businesses are set up initially, it is often done in a fuzzy haze of optimism, blind faith, and self-belief.  However, further down the line, a healthy dose of realism needs to be injected into the heady mix.  In this article, we explore what happens if one of the owners dies, and how to protect

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Will the tax man inherit your Assets?

You have worked hard all your life, built up substantial assets, and simply want to pass these down to your children and grandchildren to give them a helping hand in life once you have gone.  It is a common goal we hear when speaking with clients. However, as with many things in life, it is

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