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How Much is Inheritance Tax in the UK?

What’s the inheritance tax rate? The simple answer to the question is 40%. But – it would be a huge and potentially expensive mistake to believe that this is where the Inheritance Tax story ends. Far from it. In fact, Inheritance Tax is one of the most complex aspects of UK tax legislation. Get it […]

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Tax Planning Ideas for 2022

Tax Planning The end of the current tax year is approaching fast. But just because several weeks will pass before we embark on the new 2022-23 tax year doesn’t mean we can afford to be complacent. Leaving tax planning until April 1st could cost you money. Planning, by definition, means devising a strategy in advance. […]

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Transferring to the UK – Have you applied for Transfer of Residence Relief?

What is Transfer of Residence Relief? Are you in the process of moving to the UK? In other words, are you planning to become a UK resident? If so, you’ll have plenty on your plate. One aspect of the move that may be worrying you is the prospect of paying customs duty on the belongings […]

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Are UK Tax Cuts by 2024 Really a Possibility?

Are Potential UK Tax Cuts by 2024 likely? Surprisingly, news has emerged in recent weeks about discussions the UK Chancellor, Rishi Sunak, has held with Treasury advisers to reduce taxes. We say ‘surprisingly’ because the discussions come just a few months after the Chancellor has committed to increase National Insurance and the tax on dividends. […]

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HMRC gives personal taxpayers more time to pay UK tax

Summary of the new deadlines for the Self-Assessment Tax Return On 6 January 2022, HMRC has announced that late filing and late payment penalties for Self-Assessment taxpayers are delayed – giving them extra time to complete the Tax Return 20/21, to ease COVID-19 pressures. The last wave of COVID-19 has affected agents and taxpayers behaviours […]

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New Covid grants for the hospitality sector

Summary of the most relevant grants announced today Today (21/12/21) the UK Government announced a new package of support for the hospitality sector. The items that are most important to our clients are: Additional Restrictions Grant: One-off grants of up to £6,000 per premise for businesses in the hospitality and leisure sector Discretionary funding: discretionary […]

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