What is Inheritance Tax?

What Is Inheritance Tax?

Inheritance Tax (IHT) is a tax on the transfer of assets from one person to another.  It is usually encountered when someone dies, and they leave their Estate to either one individual or a range of beneficiaries.  However, lifetime gifts also have IHT consequences.  The rate of IHT is generally 40%.

(more…)

Read More

Tough New Tactics from HMRC in 2019

Tough New Tactics from HRMC

Attachment of Earnings Order – new agressive tool

Getting people to pay HMRC the money they owe has always proved to be tricky.  In 2016 it spent £24m on private sector debt collectors but in 2017 the figure soared to £39m.   HMRC now has a new, more aggressive tool at its disposal, known as an Attachment of Earnings Order.  These are being used alongside the feared Accelerated Payment Notices (APNs).

(more…)

Read More

Death Bed Marriages

Death Bed Marriages

Why Are Death Bed Marriages Fashionable?

As drastic as it sounds, statistics show that more cohabiting couples are deciding to marry when one partner is literally on their deathbed.  Evidence from the Home Office and the Passport Office shows a significant rise in the number of urgent marriages, often from people in health service providers. 

(more…)
Read More

Increase In Investigations Into Inheritance Tax

Increase In Investigations Into Inheritance Tax

HMRC Investigations into Inheritance Tax up by 5%

In 2015-16 24% of all taxable estates were investigated by HMRC. With rapidly increasing prices in the property market, the amount of IHT potential is very significant. Figures just released show that HMRC made 5,400 estate investigations last year. This is a year on year increase of 5%. Challenging the value of estates and investigating IHT figures in tax returns is a lucrative method for HMRC of reaping extra tax.

(more…)

Read More

A Sea Change for Landlords?

A Sea Change for Landlords?

The Government is determined to build a housing market fit for the future.  It  aims to make the private rental market fairer and more transparent for tenants.  In doing so, it will reduce the number of private landlords in the UK by making it less lucrative.

(more…)

Read More

Civil Partnership Tax Implications

Civil Partnership Tax Implications

Rebecca Steinfeld and Charles Keidan are celebrating their recent win in the Supreme Court.  By a unanimous vote, the 5 judges ruled that the Government’s refusal to allow opposite sex couple couples to have civil partners was ‘incompatible’ with human rights law.

(more…)

Read More

The long arm of HMRC?

The long arm of HMRC?

The implications of the outcome following the Brexit referendum are still being finalised.  However global financial institutions such as Goldman Sachs, Morgan Stanley, Deutsche Bank and others have said they will relocate workers to rival financial centres in Europe after March 2019.  A survey by Reuters indicated up to 5,000 financial jobs could be moved, depending on the final terms agreed by the Brexit negotiators.

(more…)

Read More

Could IHT actually be abolished?

Could Inheritance Tax be abolished?

Rumours are swirling that Inheritance Tax may perhaps be abolished.   It is tricky to navigate the current IHT regulations and many adults admit they find it baffling.  Despite the ability for a couple to pass on £850,000 free of IHT, receipts this year increased by 8% to £5.2 billion.

(more…)

Read More

Entrepreneurs Protect Your Wealth!

Entrepreneurs Protect Your Wealth!

Entrepreneurs seeking to build and develop their businesses are understandably focussed entirely on their commercial objectives and too often forget about financial planning.  It’s entirely understandable as cash is often tight in the initial stages.  Spending money on lawyers to protect assets that may not be worth much at that stage could seem unnecessary.

(more…)

Read More

Estate Planning: Where there’s a Will there’s a way …

Estate Planning: Where there’s a Will there’s a way …

The whole estate planning process is difficult for many clients.  People often have a lot at stake financially and emotionally when they engage an estate planner.  The fact that others often have an intense interest in the outcome of any estate planning doesn’t make it any easier either.

(more…)

Read More
arrow_upward

Do your assets exceed £1.5 million?

Get access to our FREE Video Guide about How to avoid Inheritance Tax.

The guide is specifically designed to protect your wealth.

No, thanks!