Inheritance Tax Archives | Taxfile https://www.taxfile.co.uk/category/inheritance-tax/ Tax advice & accounting services for South London businesses & SMEs Sun, 31 Oct 2021 20:42:13 +0000 en-GB hourly 1 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,

The post New: Tax Advice & Planning Service appeared first on Taxfile.

]]>
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 […]

The post The Chancellor’s Budget, March 2014 appeared first on Taxfile.

]]>
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 […]

The post Autumn Statement by the Chancellor of the Exchequer appeared first on Taxfile.

]]>
Possible Reforms to Intestacy Rules https://www.taxfile.co.uk/2013/09/possible-reforms-to-intestacy-rules/ Thu, 19 Sep 2013 09:00:03 +0000 http://www.taxfile.co.uk/blog/?p=550 Firstly we should mention that we are not solicitors and therefore you should seek professional advice (e.g. a solicitor) before making a will. What we did want to report on, however, is that the Ministry of Justice is proposing some changes to the intestacy rules governing England and Wales. The changes would affect the scenario […]

The post Possible Reforms to Intestacy Rules appeared first on Taxfile.

]]>
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. […]

The post IHT: Transfer of unused nil-rate band appeared first on Taxfile.

]]>
https://www.taxfile.co.uk/2007/10/ihttransfer-of-unused-nil-rate-band/feed/ 1
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 […]

The post Is Your Estate Excepted From IHT? appeared first on Taxfile.

]]>
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: […]

The post Your personal tax allowance appeared first on Taxfile.

]]>
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 […]

The post Business welcomes tax Tory plans appeared first on Taxfile.

]]>
Types of tax-free investment https://www.taxfile.co.uk/2007/08/types-of-tax-free-investment/ Thu, 16 Aug 2007 15:41:00 +0000 http://www.taxfile.co.uk/new-Taxfile-WP-blog/2007/08/types-of-tax-free-investment/ There are a number of ways investors can reduce their tax liability. Here are the most popular: • Cash Mini ISAs These are basically ordinary saving accounts but the interest you accumulate is free from tax. Anyone over 16 can put up to £3000 per tax year into a cash mini Isa. The good news […]

The post Types of tax-free investment appeared first on Taxfile.

]]>
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 […]

The post Welcome to the Inheritance Tax Blog appeared first on Taxfile.

]]>
https://www.taxfile.co.uk/2007/08/welcome-to-the-inheritance-tax-blog/feed/ 2