Inheritance Tax is a tax on the estate (the property, money and possessions) of someone who’s died. There’s normally no Inheritance Tax to pay if either: the value of your estate is below the £325,000 threshold you leave everything above the £325,000 Read More …
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ISA (Individual Saving Account) in the UK
You can save tax-free with Individual Savings Accounts (ISAs). In the 2020 to 2021 tax year, the maximum you can save in ISAs is£20,000 There are 4 types of ISA: cash ISAs stocks and shares ISAs innovative finance ISAs Lifetime ISAs You can put money into one Read More …
Stamp Duty Land Tax in the UK
You must pay Stamp Duty Land Tax (SDLT) if you buy a property or land over a certain price in England and Northern Ireland. The tax is different if the property or land is in: Scotland – pay Land and Buildings Read More …
Personal Tax UK
Types of Tax §Income Tax (Income, Dividends, Savings, Other) § National Insurance Contributions § Capital Gain Tax § Inheritance Tax § Stamp Duties (Land & Marketable Securities) § Council Tax Income Tax rates and Personal Allowances Current rates and allowances Read More …
Pensions Schemes
Occupational Pension Schemes There are two types Final Salary (defined benefit) – the pension the employee receives is calculated as a proportion of salary at retirement. Final salary schemes have become too expensive so few employers now offer these Money Read More …
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Using trusts to preserve family wealth
Treating trusts has proven an effective way of passing wealth onto subsequent generations but according to HM Revenue & Customs, there may still be capital gains tax payable. CGT applies in most cases when an asset that has increased in Read More …
Types of trust
The main types of trust are: bare trusts interest in possession trusts discretionary trusts accumulation trusts mixed trusts settlor-interested trusts non-resident trusts Each type of trust is taxed differently. Trusts involve a ‘trustee’, ‘settlor’ and ‘beneficiary’. Bare trusts Assets in a Read More …
Trusts remain out of favour with wealthy families
Wealthy families are increasingly shunning the use of trusts for financial planning because of increased tax rates and concerns about privacy, advisers warn. The latest statistics from HM Revenue & Customs, published on Thursday, show the number of trusts has Read More …
Paraplanner – City of London
A respected Investment orientated IFA based in the City is looking for a talented Paraplanner/ Report Writer seeking a more flexible working arrangement to join their continually growing business and help develop their already highly respected Client Support Team. Working Read More …