Will my partner inherit everything if I die without a Will?
Couples who live together but aren’t married sometimes refer to their boyfriend or girlfriend as their common law partner. But what does that mean in legal terms? Well, to be blunt, not a lot, as you’re not related to your partner either by blood or by marriage. So, if you…
Does an increase to capital gains tax look likely?
While Rishi Sunak’s spring budget introduced a variety of new initiatives and updates to multiple taxes, one suspected change was missing from the big red book. Analysts had speculated that a capital gains tax (CGT) hike would be a likely inclusion in Sunak’s budget, expecting it to be brought more…
Final countdown to the end of the tax year
You may have seen lots of ads already about the end of the tax year. But if you’ve not yet taken any action, now is the time to do so to shield your savings from tax. Here is a handy checklist of what to do and what not to do…
6 things to do before tax year end
The tax year will be coming to an end on 5th April. With that cutoff date in mind, we wanted to remind our clients of some of the allowances available to you during the tax year. It’s important to make sure you’re making the most of your allowances in all…
Is Inheritance Tax for the chop?
Inheritance Tax (IHT) is deeply unpopular, there’s no denying it. According to a 2015 YouGov poll, 59 per cent of the population think it’s unfair. So whichever party is in power after the Election, it’s likely they will include it as one of the taxes to be reviewed. Indeed, at…
Can we make inheritance tax simpler?
Inheritance tax (IHT) has existed in the UK for more than 300 years. In its present form, it was brought in to replace the old Capital Transfer Tax; a measure that was brought in itself as a form of wealth distribution in order to control disparity between rich and poor. While…
Speaking about your will—don’t be one of the 93%
A National Savings and Investments (NS&I) survey has revealed only 7% of people have talked to their parents about inheritance. One of the key parts of planning to leave an inheritance is to speak about it. This is clearly not an easy subject and it may be a good idea…
What does the nil rate band really mean for me?
Changes to inheritance tax (IHT) came in earlier this year, influencing the allowance for those wanting to pass on their home to members of the family. But as the changes are being rolled out over the next few years up to the 2020/2021 tax year, it can be hard to…