Tax-free Valentines day gifts?

In the UK, we spend almost £1 billion per year on Valentine’s gifts. Fortunately for the lovebirds out there, you can take advantage of some tax free valentines day gifts! Any gifts to your spouse or civil partner are completely exempt from inheritance tax (IHT), so there is no need to hold back on showing your other half how […]

Tax relief for married couples

What’s love got to do with it?   According to a survey of 4,000 brides carried out last year, the average cost of a UK wedding is now a whopping £27,161 the highest it’s ever been and up 9.6 percent from last year. So are there any tax benefits to be had by saying ‘I […]

Using your business to retire

Have you considered using your business as a retirement vehicle? Whether planning to sell your business to a third party or gifting it to the next generation, devising a structured plan long before exit can reap benefits now as well as later. New pension freedoms mean a pension pot can not only benefit you, but also your family and […]

Finance Bill Update

Along with yesterday’s announcement that the implementation date for Making Tax Digital has been pushed back, H M Treasury also acknowledged that the uncertainty following the removal of the majority of clauses from the Finance Act 2017 to enable the Bill to be passed through Parliament before the snap election in June, is causing difficulty […]

Company Reconstruction

Fairly regularly we come across situations where a company reconstruction is required in order to split apart different activities.  For example to separate the ownership of investment assets from a trade to protect them from commercial risks. Another example would be to facilitate the sale of part of the company’s business or trade. This can […]

Don’t Miss out on the New Marriage Allowance

The New Marriage Allowance According to reports, many couples have yet to make the claim to transfer any surplus personal allowance to their basic rate spouse. It is not clear why this is but there seems to be a lack of awareness about the new marriage allowance and, an uncertainty as to how the claim […]

Changes ahead to tax relief for residential landlords.

The Summer Budget  included three significant announcements which signaled changes to tax relief for residential  landlords. These are likely to have far-reaching implications for many property investors, including farmers and estates with surplus farmworkers’ cottages which are let out. Relief for landlords’ finance costs: loss of tax relief The most significant change is the reduction […]

Options to Tax

As part of the expansion of the tax, the Option to Tax land and properties was introduced in 1989 VAT is one of the most complex taxes we have. Anthony Barber the Chancellor of the Exchequer said that VAT would be a “simple tax” when he oversaw its introduction in 1973. How the world has […]

Stamp Duty and Marriage

A conversation with a family member recently highlighted the complexities that come with investing in property and how it is so important to consider all the tax implications of buying, selling, and owning the property in your sole name or joint names. The impact of stamp duty and marriage could have a significant on your […]

close slider