The Autumn Budget
Rishi Sunak has had a good crisis, at least so far. Since March he has been pumping money into the economy at an unprecedented rate. For example, claims under the CJRS had reached over £27.4bn by the start of…
Rishi Sunak has had a good crisis, at least so far. Since March he has been pumping money into the economy at an unprecedented rate. For example, claims under the CJRS had reached over £27.4bn by the start of…
The tax year 2019-20 ends on 5 April 2020. If you would like to take advantage of any year-end tax planning opportunities, you have just a few weeks left to act. Making the most of your tax allowances for…
Before a person’s estate can be distributed under the terms of their Will, a grant of probate must be obtained from the courts. In turn, the courts will not act until IHT documentation has been completed and any tax due…
Digital legacy – a three step plan We spend most of our lives managing our assets and providing security for our families and our old age. Usually this means considering the unexpected and being well organised so that, if/when…
As the graph shows, IHT receipts have been growing steadily in recent years. This tax year’s IHT payments are projected to be £5,500 million, over double the amount raised eight years ago. The introduction of the residence nil rate…
The residence nil rate band (RNRB) was introduced in April 2017 following a 2015 election pledge by the Conservatives to raise the effective inheritance tax threshold for married couples and civil partners to £1,000,000. As is often the case…
If your company car is due for a change this year or next and you can choose a mix of cash and/or car, be warned. There has been a change in the tax rules on optional remuneration arrangements (OpRA in…
Pensions are generally thought of as a highly tax-efficient way of saving, but this is not true in all circumstances. There are two features built into the original “simplified” pension tax regime which, after a series of detrimental changes,…
A different kind of tax year end… As we approach the end of another tax year, the planning process is going to be slightly different from other years for two reasons: There will not be a Spring Budget. In 2016 the Chancellor…
This year’s March Budget was the last Spring Budget, as Mr Hammond has said from now on Budgets will be presented in Autumn, with Spring being reserved for a financial statement. Thus in 2017 we shall have two Budgets, the…