In the coming months we will start to see how our new government intends to change the UK tax rules to further its economic growth agenda. Whatever they decide to do, readers who presently benefit from tax and/or business planning strategies, should be prepared to…
Two separate £1,000 tax allowances for property and trading income were introduced in April 2017. If you have both types of income highlighted below, then you can claim a £1,000 allowance for each. The £1,000 exemptions from tax apply to: • If you make up…
As a general rule, an individual who inherits property, money or shares is not liable to pay tax on the inheritance. This is because any Inheritance Tax (IHT) due should be paid out of the deceased’s estate before any cash or assets are distributed to…