Tax Planning

Inheritances (& Tax) To Rise in the Next Decade

New research suggests that the total annual amounts passing from one generation to the next will rise from the current level in 2017 of £69 billion to £115 billion by 2027. That is a 66% increase over the next ten…
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Residential Nil-Rate Band – What You Need To Know

HMRC has updated the sections of its inheritance tax manual covering the crucially important residential nil-rate band for inheritance tax. The new sections can be found at IHTM46000 onwards. HMRC Guidance – http://bit.ly/2ektrwD HMRC Manual – http://bit.ly/2pDCcnW The Guidance is…
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Inheritance Tax Planning moves into Election Spotlight

Labour’s manifesto is expected to halve the inheritance tax threshold to £425,000 ( i.e. two nil rate bands and two 2017/2018 residential nil rate bands) according to the Evening Standard. Shadow chancellor John McDonnell confirmed on BBC radio that if…
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Tax Tip: Tax Free Dividends?

From 6 April 2016, the notional 10% tax credit on dividends is abolished and a £5,000 tax free dividend allowance is introduced. Dividends above this level are taxed at 7.5% (basic rate), 32.5% (higher rate), and 38.1% (additional rate). Dividends received by…
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