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Inheritance tax planning guide

What is inheritance tax? The government imposes inheritance tax on the estate of a deceased person before distributing the assets to their heirs. It calculates this tax based on the value of the person's estate (the assets they own individually) above a certain...

Avoid the £10 Daily Penalty for Self-Assessment

£10 daily penalty for Self-Assessment starts on 1st May Starting from 1st May 2024, individuals who have yet to submit their overdue Self-Assessment tax return for the 2022-23 tax year will incur additional late filing penalties of £10 per day (capped at a total of...

Agricultural Property Relief – Changes Ahead

Government initiatives often shape the landscape of various sectors, and agriculture is no exception. Recent developments in the UK's environmental policies are set to bring significant changes to agricultural property relief (APR).   Background In 2023, the UK...

Tax benefits of marriage

Considering popping the question on Valentine’s Day?  Here we look at some of the various tax credits and breaks married couples can benefit from and how it can pay to get married. The Marriage Allowance | Inheritance Tax | Pay less Capital Gains Tax | Reduce Income...

When is the 2024 Spring Budget?

Chancellor Jeremy Hunt will deliver his 2024 Spring Budget on Wednesday 6 March 2024.   What time is the Budget? The Budget is expected to take place at about 12:30 pm, straight after PMQs. The first part of the statement typically begins with a review of the...

Tax return tips for self-employed business owners

As a self-employed business owner, you may find it hard to keep on top of tracking accounting records, taxes and expense claims when submitting your self-assessment tax return. Hiring an accountant could benefit you with the following points. There are many different...

Autumn Statement Summary 2023

Autumn Statement 2023 On 22 November 2023, Jeremy Hunt delivered the ‘Autumn Statement for Growth’. Against an improving economic backdrop, the Chancellor is keen to stimulate economic growth and highlighted 110 measures for businesses. In addition, there were...

Autumn Statement 2023 – Key Tax Announcements

This afternoon, the Chancellor Jeremy Hunt announced his Autumn Statement. Below we have highlighted some of the key tax announcements made by the Chancellor.   Employee National Insurance Contributions (NICs) cut The main rate of Class 1 employee NICs will be...

When is the 2023 Autumn Statement?

The Chancellor of the Exchequer, Jeremy Hunt, will deliver the Autumn Statement on Wednesday 22 November 2023.  The statement is one of the key financial events in the political calendar and will be Jeremy Hunt’s second Autumn Statement as Chancellor.   What time is...

Inheritance tax planning guide

What is inheritance tax? The government imposes inheritance tax on the estate of a deceased person before distributing the assets to their heirs. It calculates this tax based on the value of the person's estate (the assets they own individually) above a certain...

Avoid the £10 Daily Penalty for Self-Assessment

£10 daily penalty for Self-Assessment starts on 1st May Starting from 1st May 2024, individuals who have yet to submit their overdue Self-Assessment tax return for the 2022-23 tax year will incur additional late filing penalties of £10 per day (capped at a total of...

Agricultural Property Relief – Changes Ahead

Government initiatives often shape the landscape of various sectors, and agriculture is no exception. Recent developments in the UK's environmental policies are set to bring significant changes to agricultural property relief (APR).   Background In 2023, the UK...