IHT Archives | Taxfile https://www.taxfile.co.uk/category/iht/ Tax advice & accounting services for South London businesses & SMEs Thu, 13 Mar 2025 14:56:42 +0000 en-GB hourly 1 Harnessing Technology at Taxfile https://www.taxfile.co.uk/2021/07/technology-at-taxfile/ Thu, 08 Jul 2021 13:56:07 +0000 https://www.taxfile.co.uk/?p=5900 How we harness technology at Taxfile in Tulse Hill and Dulwich, South East London

The rapid pace of technological change has caused some of the biggest shifts in how we view and process our tax returns. At Taxfile, we're constantly striving to use technology as effectively as possible to aid us in collecting, analysing, and collaborating when working on your personal data.

Over the pandemic, we've had to place our reliance even further on technology to maintain our standards, with regular meetings online. We're constantly improving the efficiency of our work pipeline and, with the ability to pull figures directly from online bank statements, we can ensure precision in the numbers we present you with. For the last two years, we've implemented cloud technology as both a collaborative tool between our senior and junior staff and as storage for various databases used to track everything from employee working hours to the status of your tax return. We're expanding further on this concept in collaboration with Pure Technology by merging our existing cloud systems with our current remote work solution to form one, all-encompassing workspace environment. Hosting it in the Microsoft Cloud ensures that, with the help of our office staff, your paperwork and bookings can be sent to and viewed by your tax agent as soon as possible. This and a variety of other endeavours are examples of our ambitions to be at the forefront of innovations, and constant review of our policies ensures we remain ahead, or on track, to meet the standards set by Making Tax Digital (MTD) for its 2023 launch.

Contact South London’s Favourite Accountant

Taxfile can help you with all your tax or accountancy requirements. We offer

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New: Tax Advice & Planning Service https://www.taxfile.co.uk/2018/02/new-tax-advice-planning-service/ Fri, 02 Feb 2018 12:55:24 +0000 http://www.taxfile.co.uk/?p=2761 New tax planning & tax advice service from Taxfile

You can now get tax planning and tax advice from Taxfile. We have highly experienced senior accounting staff who can give you the right tax advice when you need it most — for example, when your circumstances are changing, if you've had trouble keeping on top of your tax commitments and need to bring things up to date, or perhaps a friend or relative simply needs a bit of reassurance with regard to their tax situation. Perhaps you have assets or income abroad as well as income in the UK and want to make sense of your tax position. Or, perhaps you have recently made a tidy profit trading crypto coins like Bitcoin and want to know where you are from the standpoint of Capital Gains or Income Tax. Maybe you need to disclose income from property rental that you have previously not told HMRC about (more about that in a later post). Those are all examples of typical situations where our new Professional Tax Advice and Tax Planning services can help you to see the wood from the trees.

A Free Telephone Consultation

In the first instance, we are inviting clients to speak for just 15 minutes with one of our resident tax planning experts. This will be in the form of a free, introductory telephone call, perhaps in February or March if it suits you. We can then see what's needed and take it from there. We can, of course, discuss any costs with you before you commit to anything further, and there is no obligation.

Whether it's about labour taxes, investment taxes, business taxes, disclosures to HMRC or even professional help to support you during an HMRC tax investigation, we can make sense of all the options for you and — in a fair and ethical way — help to make sure you are paying no more tax than you should do. With decades of experience in accountancy and tax planning, we know exactly what's what when it comes to tax, so can definitely help you. Call 0208 761 8000 to arrange your free 15 minute telephone appointment with a tax expert, at a mutually convenient time. Alternatively,

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The Chancellor’s Budget, March 2014 https://www.taxfile.co.uk/2014/03/budget-march-2014/ Thu, 20 Mar 2014 15:04:45 +0000 http://www.taxfile.co.uk/blog/?p=680 The Chancellor, George Osborne, has now presented his March 2014 Budget to Parliament. There was lots of talk about the economy, growth forecasts, supporting UK businesses and employment – as well as some obvious political spin bearing in mind the European and General Elections are just around the corner – however we thought we’d concentrate […]

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Autumn Statement by the Chancellor of the Exchequer https://www.taxfile.co.uk/2013/12/chancellors-autumn-statement/ Mon, 09 Dec 2013 18:27:37 +0000 http://www.taxfile.co.uk/blog/?p=600 On 5 December 2013 George Osborne, Chancellor of the Exchequer, gave his Autumn Statement in Parliament. Key announcements included: A rise for the Personal Allowance, as was long-anticipated, to £10,000 in 2014/15; the higher 40% tax rate threshold also increasing to £41,865; A new, transferable, tax allowance of £1,000 for married couples and those in […]

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IHT: Transfer of unused nil-rate band https://www.taxfile.co.uk/2007/10/ihttransfer-of-unused-nil-rate-band/ https://www.taxfile.co.uk/2007/10/ihttransfer-of-unused-nil-rate-band/#comments Wed, 10 Oct 2007 15:29:00 +0000 http://www.taxfile.co.uk/new-Taxfile-WP-blog/2007/10/ihttransfer-of-unused-nil-rate-band/ The Pre-Budget 2007 Report published on Tuesday 9th October announced various changes, one of them referring to the inheritance tax (IHT). Previously, married couples could transfer an unlimited sum to each other when one died without paying inheritance tax. But when the survivor died, their estate was then taxed at 40% on anything exceeding £300,000. […]

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Is Your Estate Excepted From IHT? https://www.taxfile.co.uk/2007/09/is-your-estate-excepted-from-iht/ Sat, 29 Sep 2007 13:49:00 +0000 http://www.taxfile.co.uk/new-Taxfile-WP-blog/2007/09/is-your-estate-excepted-from-iht/ (for UK domiciliaries only) From 6 April 2004, there are two types of estates are qualified to be excepted from IHT for UK domiciliaries. 1. Low valued estates When the total value of estates does not exceed the inheritance tax threshold, then those estates do not suffer IHT. Which threshold should be applied is determined […]

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Your personal tax allowance https://www.taxfile.co.uk/2007/09/your-personal-tax-allowance/ Sat, 01 Sep 2007 12:30:00 +0000 http://www.taxfile.co.uk/new-Taxfile-WP-blog/2007/09/your-personal-tax-allowance/ Everyone who lives in the UK is entitled to a personal allowance. This is the amount of income you can receive each year without having to pay tax on it. Depending on your circumstances, you may also be able to claim certain other allowances. There are three levels of personal allowance for 2007/2008 tax year: […]

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Business welcomes tax Tory plans https://www.taxfile.co.uk/2007/08/business-welcomes-tax-tory-plans/ Sat, 18 Aug 2007 12:29:00 +0000 http://www.taxfile.co.uk/new-Taxfile-WP-blog/2007/08/business-welcomes-tax-tory-plans/ The Tories yesterday set out proposals for easing the burden of tax and regulation on British businesses in an attempt to improve the economy’s competitiveness. However Chancellor George Osborne said that any tax reductions would have to be paid for by tax increases elsewhere, such as new environmental taxes: ” Any reductions in specific taxes […]

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Welcome to the Inheritance Tax Blog https://www.taxfile.co.uk/2007/08/welcome-to-the-inheritance-tax-blog/ https://www.taxfile.co.uk/2007/08/welcome-to-the-inheritance-tax-blog/#comments Sat, 11 Aug 2007 11:31:00 +0000 http://www.taxfile.co.uk/new-Taxfile-WP-blog/2007/08/welcome-to-the-inheritance-tax-blog/ Inheritance Tax (IHT) is a tax on the value of a person’s estate on death and on certain gifts made by an individual during their lifetime. There is a certain threshold when it comes to inheritance tax. This is defined as the amount above which inheritance tax becomes payable. If the estate, including any assets […]

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