More than 70% of Brits think Inheritance Tax (IHT) is unfair, according to a poll carried out by Tax Policy Associates in 2023. You might consider how other countries handle taxing assets when you pass away to be “fairer”, read on to find out more. Over the last few months, you’ve read about how IHT works in the UK and …

If you take a proactive approach to managing your wealth, you could reduce how much Inheritance Tax (IHT) your estate may be liable for when you pass away. Last month, you read about what IHT is and when estates become liable to pay it. Now, read on to discover some of the shrewd strategies you could use to reduce a …

Often dubbed “death tax” or “Britain’s most-hated tax” in the media, Inheritance Tax (IHT) may seem complex, and you might be unsure if it’s something you should consider as part of your estate plan. Over the next few months, you can read about the essentials you need to know, how to reduce a potential tax bill, and the importance of …

The number of retirees who could face an Income Tax bill is expected to rise. If your total income could exceed tax thresholds, there might be some steps you can take to reduce your tax bill. The Personal Allowance is the amount of income you can receive before you usually need to pay Income Tax on the portion that exceeds …

In the 2024 Budget, the chancellor announced a cut to the higher rate of Capital Gains Tax (CGT) for residential property, which, on the surface, sounded like positive news for landlords. However, a reduced CGT allowance, known as the “Annual Exempt Amount”, could mean that many people selling a second property will face a higher tax bill than anticipated. According …

The gains you can make before potentially paying Capital Gains Tax (CGT) have halved for the 2024/25 tax year. If you plan to dispose of assets, the change could affect you. Read on to find out when you could be liable for CGT and some steps you might take to manage a bill. CGT is a tax on the profit …

More than 1 million investors will be hit with a Dividend Tax bill for the first time in the 2024/25 tax year, according to an AJ Bell report. Read on to find out if you could be affected and discover some of the steps you could take to mitigate a tax charge. A dividend is a way of distributing a …

Demystifying the labyrinthine UK tax system and its year-end procedures can seem like a daunting task. Yet it’s crucial for both individuals and businesses. Within this complex structure, we must navigate income tax, corporation tax, capital gains tax, and VAT, to name just a few. This guide seeks to shed light on this intricate system and empower you with the …

While chancellor Jeremy Hunt announced he’d cut the rate of National Insurance (NI) in the 2023 Autumn Statement, he failed to change the thresholds or rates for Income Tax. While that might seem like a good thing – it’s better for your finances than a rate rise after all – your tax liability could still increase.  “Stealth taxes” refer to …