The UK government has just confirmed an important update to Inheritance Tax (IHT) reliefs for farmers and business owners — a move that eases some of the financial pressure on family farms and enterprises but still leaves broader tax reforms in place. From 6 April 2026, the threshold at which agricultural and business property relief…
Author Archives: Alex Dent
06
Nov
Nov
One of the biggest announcements in the Autumn Budget was in relation to Inheritance tax, the key changes are: Any unused pension pots will be subject to Inheritance Tax on deaths from 6 April 2027. Business Property Relief (BPR) and Agricultural Property Relief (APR) at 100% will be capped at a combined £1million for both…
30
Oct
Oct
This was a once in a generation budget, especially in relation to Inheritance Tax, Capital Gains Tax and Employers’ National Insurance, with businesses and business owners bearing the brunt of the £40bn tax hike. Much had already been leaked ahead of today with the expected rise in National Insurance for employers predicted to hit many…
21
Jun
Jun
Many people now invest in various cryptocurrencies, whether that’s Bitcoin, Ethereum, Doge, NFTs or the plethora of other crypto investments you can choose. What lots of people don’t realise is that if they are buying and selling crypto, they may have a tax liability. In the UK ‘normal currency’ like pounds and sterling are not…
05
Apr
Apr
In the Spring Budget 2024, it was announced that the government will be abolishing the Furnished Holiday Lettings (FHLs) tax regime from 6 April 2025. We are aware that these rules might affect you and thought we’d explain how they could impact you. What are furnished holiday lets? Furnished holiday lets are furnished residential properties…
Do you have an investment bond policy that is written under trust? Are you a partner in a partnership that holds properties on behalf of the business? Are you an executor of an Estate which is taking longer than 2 years to administer? ARE YOU AWARE OF THE REQUIREMENTS TO REGISTER UNDER THE TRUST REGISTRATION…
We are often asked how long accounting records should be kept for. Below are the statutory time limits set by HM Revenue and Customs for accounting, PAYE and tax return records, with lists of the documents that should be kept. For accounting records: VAT registered businesses must keep VAT records for at least 6 years….
23
Mar
Mar
Today’s spring statement brought a welcome announcement of the increase in the national insurance primary threshold. Below is a brief summary of some of the measures to be introduced: National insurance – The threshold at which individuals start paying National insurance will rise to £12,570 in July this year bringing it into line with the…
It was an unusual budget today delivered by Chancellor of the Exchequer Rishi Sunak; many expected changes in capital taxes and VAT did not materialise. The constant theme of the budget was that of growth and investing in the future to generate revenue for the government, with one of his goals being to reduce taxes…
The prime minister has confirmed that there will be a 1.25% increase to NIC and dividend tax rates. National Insurance Increases There will be a temporary increase in April 2022 of 1.25% to Class 1 and Class 4 NIC as well as a 1.25% increase in Class 1 Secondary NIC paid by employers. It will…
