How Married Couples and Civil Partners can reduce their Household Tax Bill in 2026/27 For married couples and civil partners, effective tax planning can significantly reduce a household’s overall tax liability. While spouses are taxed as separate individuals under the UK tax system, there are several opportunities to make better…
Families Could Be Paying Thousands Too Much in Inheritance Tax on Life Insurance Policies Thousands of UK families may be paying far more inheritance tax (IHT) than necessary because their life insurance policies have not been placed into trust. According to the latest HMRC figures, around £850 million worth of…
Discounted Gift Trusts: A Smart Way to Reduce Inheritance Tax While Keeping an Income Want to reduce Inheritance Tax (IHT) without giving away complete access to your money? A Discounted Gift Trust could offer a solution. Many people face a difficult choice when planning their estate. They can either give…
Are Family Investment Companies Right for Your Wealth and Inheritance Tax Planning? With ongoing changes to inheritance tax (IHT) legislation and increasing concerns about preserving family wealth, many high-net-worth individuals are exploring advanced estate planning strategies. One option attracting growing interest is the Family Investment Company (FIC). A Family Investment…
Could New Inheritance Tax Rules Put Family Businesses at Risk? For many business owners, succession planning is about more than protecting personal wealth. It’s about safeguarding a family legacy, preserving jobs, and ensuring that a business can be passed smoothly to the next generation. However, upcoming changes to inheritance tax…
With just a few weeks to go until the beginning of a new tax year, a new round of tax changes take effect from April 2026. While many people won’t see a big difference in their day-to-day tax position, there are some areas worth having on the radar. Here is…
Welcome to the February 2026 Tax Update. In this issue we take a look at year-end tax planning, the inheritance tax U-turn, MTD, employment expenses, an input VAT ruling and dates on the Accounting Horizon. THERE’S STILL TIME FOR SOME YEAR END TAX-PLANNING! With the tax/financial year end approaching, now…
Inheritance Tax (IHT) can apply to certain lifetime transfers/gifts and also on the value of an individual’s estate at the time of death. The IHT nil rate band is £325,000, with an additional £175,000 ‘residence nil rate band’ available in some cases for leaving the family home to direct descendants.…
Welcome to the November Tax Update. In this issue we take a look at planned IHT relief restrictions, MTD for Digitally Excluded Taxpayers, VAT on biscuits, SDLT, advisory fuel rates for electric cars and upcoming dates on the Accounting Horizon. PLANNED INHERITANCE TAX RELIEF RESTRICTIONS FROM APRIL 2026 In Autumn…
Welcome to the August Tax Update. In this issue we take a look at the government’s Legislation Day’, HMRC’s Transformation Roadmap, what’s new in Making Tax Digital, proposed changes to Inheritance Tax, Class 2 NIC, and dates on the Accounting Horizon. LEGISLATION DAY 2025 – WHAT WAS PUBLISHED? On ‘Legislation…