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…
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…
The Prime Minister, Sir Keir Starmer, speaking from Downing Street last Tuesday, has said that the budget in October will be “painful” and the government would be making “big asks” of the country. He said that the country would need to be prepared to “accept short-term pain for long-term good”…
Welcome to our September Tax Update. In this edition we take a look at Inheritance Tax, Workplace Nurseries, Tax-Free Childcare Accounts, Hours Worked Reporting, Fuel Rates for Company Cars and upcoming dates on the accounting horizon. SHOULD YOU PASS ON WEALTH NOW TO AVOID INHERITANCE TAX? Many wealthy individuals are…
Recently there has been a surge in Inheritance Tax (IHT) receipts. HM Revenue and Customs (HMRC) reported a record £7.5 billion collected in the year to March, a significant increase from the previous year. However, a concerning trend has emerged regarding the potential impact of IHT on the housing market.…
Lump sum death benefit charge What do you need to tell HMRC? New guidance has been published by HM Revenue and Customs (HMRC) to help legal representatives find out what they need to tell HMRC to calculate the lump sum death benefit charge. When someone passes away and their estate…