Explained: When Inheritance Tax could apply to gifts
Gifting assets during your lifetime has become a common strategy for reducing a potential Inheritance Tax (IHT) bill. Indeed, according to Paragon Bank (31 July 2025), 1 in 5 savers aged over 65 are passing on cash for this reason. Yet, gifting doesn’t always mean that assets are excluded from your estate when calculating IHT, […]
Why earning more than £100,000 doesn’t have to mean falling into a tax trap
A hidden marginal tax rate that affects workers earning between £100,000 and £125,140 is often dubbed a “tax trap”, and research suggests it’s shaping career decisions. However, there are ways you might mitigate the additional tax charge without putting the brakes on your career progression. The Personal Allowance is £12,570 in 2026/27, and you can […]
Corporation Tax hike: Here are the essentials business owners need to know
The rate of Corporation Tax your business pays may have changed for the 2023/24 tax year. It could affect your profit margins and long-term plans, so it’s crucial you understand what the new rates could mean for your business. After a series of announcements and U-turns in 2022, you may not be fully aware of […]
You need to know about this tax trap if you’re returning to work after retiring
The latest figures suggest that thousands of retired people are returning to work. If you’re thinking about doing the same, you need to be aware of the Money Purchase Annual Allowance (MPAA). Figures from Royal London suggest that some people that retired during the pandemic have returned to work in some way. The number of […]
3 key autumn statement changes you need to be aware of for the new tax year
Last year, chancellor Jeremy Hunt made some key announcements during the autumn statement that could affect how much tax you pay from April. Reviewing your financial plan could help you understand if you’ll be affected and make changes if necessary. In sharp contrast to the mini-Budget delivered by former chancellor Kwasi Kwarteng in September, Hunt’s […]
8 key tax allowances have shrunk by 6% in the last decade
Key tax allowances like the Personal Allowance and Capital Gains Tax (CGT) annual exempt amount can help your money go further. As research shows that overall tax allowances have been cut, it’s more important than ever to understand what allowances make sense for you, and how they can complement your financial plan. According to calculations […]
Total tax collected from exceeding the pension Lifetime Allowance is set to reach almost £1.5 billion annually
Successive cuts to the Lifetime Allowance (LTA) and a freeze means that more people than ever could face an unexpected tax bill when they access their pension. The LTA is the total amount a person can build up in pension benefits without incurring tax charges. Since it was introduced in the 2006/07 tax year, there […]
Inheritance Tax receipts rise again. What can you do to minimise the bill?
Official figures show that the amount paid in Inheritance Tax (IHT) has increased again. As the IHT thresholds are set to remain the same despite rising inflation, more people will need to consider how IHT could affect what they leave behind for their families. According to a report in FT Adviser, IHT receipts between April […]