Keeping you up to date with the latest news and happenings in the worlds of accounting, tax and insolvency
Giving money to charity to save inheritance tax
Giving money to charity to save inheritance tax One way to reduce the amount that the taxman takes from an estate in inheritance tax is to make a donation to charity. This is can be particularly tax effective. The donation is taken off your estate before inheritance tax is...
Utilising the 2019/20 dividend allowance
Utilising the 2019/20 dividend allowance The dividend allowance is quite unusual in that it is available to everyone and everyone has the same allowance. For 2019/20 the allowance is set at £2,000. In common with many allowances, it is a case of use it or lose it. ...
The last thing you want for Christmas is an inheritance tax liability!
Beware of triggering an IHT bill on Christmas gifts When deciding what to give as Christmas gifts, the possibility of triggering an unintended inheritance tax liability is not one that immediately springs to mind. However, t...
Inheritance tax and spouses and civil partners
Inheritance tax and spouses and civil partners Special rules apply for inheritance tax purposes to married couples and civil partners. To ensure valuable tax reliefs are not lost, it is beneficial to consider the c...
Did you know frequent gifts can be free of inheritance tax?
Did you know frequent gifts can be free of inheritance tax? Give from income to save inheritance tax Within a family scenario, there are many situations in which one family member may make a gift to other family members. However, the way in which...
Pass on your house free of inheritance tax
Pass on your house free of Inheritance Tax The introduction of the residence nil rate band (RNRB) opens up the possibility of leaving the family home to su...
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