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‘Taxation & Trusts’ Archive

News Update: Don’t Forget to Pay Your Tax Bill

According to HMRC, out of the 12.2 million customers expected to complete a return for this tax year, four million people still need to submit their completed Self Assessment tax return and make payments toward their amount due before the deadline of 31 January. To avoid interest accruing on your outstanding payments, pay any outstanding […]

All About Inheritance Tax

Inheritance tax, or IHT, is a tax on an estate (property, money, and possessions) payable upon death. The value of your estate (the value of all your assets) will determine whether you or your beneficiaries will be required to pay it and how much will be due. Let’s look at inheritance tax.

News Update: Sunak Won’t Cut Taxes Until Finances are Stable Again

A bit of bad news for those worried about potential tax cuts: Chancellor Rishi Sunak stated that he would only begin to consider cutting taxes when public finances are stable after the toll the coronavirus took on the national economy.

News Update: Will You be Affected by Government Tax Plans?

In order to fund COVID-19 recovery efforts, the government has set its eyes on pensions, putting savers at a disadvantage. Current plans mean pensioners should avoid the worst of the raid, but workers will bear the brunt with three different reform plans being discussed.

Tax Update: Tax Changes Following the Budget 21

Following the budget announcement from Chancellor of the Exchequer, Rishi Sunak, on 3 March, changes will be made in line with government’s priorities to continue the support to businesses and individuals as we recover from the coronavirus’ economic effects.

News Update: Are you Entitled to 1k+ Just for Being Married?

Do you know about the government’s Marriage Allowance tax break? If you are married or in a civil partnership, you could be eligible for this allowance, which could put an extra £1,000 in your pocket.

Key Points from the 2021 Budget

Experts weren’t sure how much coronavirus relief would dictate the shape of the budget. But the Chancellor’s plan centres on measures that help businesses and and support jobs through the pandemic and using tax raises to help balance the books.

3 Tips to Reset Your Financial Focus This Year

After a year with COVID-19 and an uncertain future ahead, your finances might not be in the best place at the start of the year. Here are three key things you can focus on to reset your financial focus in 2021.

Budget Update: What to Expect from the Budget on 3 March

With just days to go before the next budget announcement, what can you expect from Chancellor of the Exchequer, Rishi Sunak’s plans for the nation on 3 March?

Tax Update: Maximising Tax Relief on Business Expenses

Many practice owners and self-employed professionals are unaware of all the business expenses they can claim for some much-needed tax relief. Make sure you’re taking advantage of the tax relief you are eligible for before the end of the tax year.

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