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Budget 2015: Practical applications of the new Inheritance Tax rules

July 30, 2015 by TIna

Category: inheritance tax & Uncategorized

Inheritance tax, once only paid by the super-rich, has become a middle-class plague as house prices have soared. But millions will now escape this unpopular ‘death duty’ thanks to a chunky new allowance announced by the Chancellor. For all bar the wealthiest, inheritance tax should no longer be a problem. The new rules mean family members will be able to inherit as much as £1 million from 2020 without paying 40% death tax – so long as the estate goes to children or grandchildren and includes a family home worth between £650,000 and £2m.

Budget 2015: Are taxpayers really winners?

July 29, 2015 by TIna

Category: Budget & financial planning & Tax & Uncategorized

An analysis of the Chancellor’s Summer Budget recently published by ‘This is Money’ presents the outcomes for individuals and families in relation to broad categories of ‘Winners’ and ‘Losers’. One category labelled as winners are Taxpayers.

Budget ‘Tax Raid’ on Dividends and Investment Income

July 28, 2015 by TIna

Category: Business & Tax & Uncategorized

Changes to dividend taxation rates will see entrepreneurs and small business owners pay £6.8bn more in tax during the next five years, a move The Daily Telegraph described as a ‘tax raid’.

How the Summer Budget changed the landscape for SMEs

July 27, 2015 by TIna

Category: Budget & Business & financial planning & Uncategorized

Those who listened to the Summer Budget on 8th July for news affecting small businesses will no doubt have been glad to see corporation tax slashed and the employment allowance increased, but an article recently published by KPMG asked, did the Summer Budget go far enough in announcing measures to help small businesses grow?

Summer Budget changes for owners of family businesses

July 24, 2015 by TIna

Category: financial planning & Uncategorized

There are almost 3 million family businesses in the UK, employing 9.4 million people. These are estimated to contribute a quarter of the UK’s GDP and generate tax revenues of £102 billion, according to the Institute of Family Business. Family businesses are therefore crucial to the economic well-being of not only many families, but to the country’s economic growth ambitions. With that in mind, many family businesses will have been keeping a close eye on the Summer Budget, which announced a range of measures likely to impact them in some way.

One in five reaching State Pension age, return to work.

July 23, 2015 by TIna

Category: pensions & retirement & Uncategorized

More than one in five (21%) of pensioners have gone back to work since they reached the State Pension age, or are planning to do so in the future, according to new research from Prudential. The rise of the retired jobseeker, along with the growing trend for a period of pre-tirement as previously identified by Prudential, shows how the modern retirement reality continues to shift further from the traditional norm of giving up work for good on a set date.

Our insights

Budget 2015: Practical applications of the new Inheritance Tax rules

Budget 2015: Are taxpayers really winners?

Budget ‘Tax Raid’ on Dividends and Investment Income

How the Summer Budget changed the landscape for SMEs

Summer Budget changes for owners of family businesses

One in five reaching State Pension age, return to work.

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