How Does a Trust Protect Personal Assets – An Overview
When considering asset protection, there are many tools and paths open to you. One specific option is using a trust. Trusts have historically been used for the purpose of asset protection, but have also been linked with tax planning and often tax avoidance. Nowadays, the likelihood of tax avoidance through the use of a trust […]
What is the Inheritance Tax on Property?
Inheritance tax relates to the estate left by a person when they die. This could be the amount of money they have, property they own or any other assets that belong to them. Gifts made during that person’s lifetime may also be affected by inheritance tax. There is generally no inheritance tax on property passed […]
Business Property Relief & IHT
If you own a business, or an interest in a business, your estate may be entitled to relief from Inheritance Tax. Business Property Relief (BPR) provides relief from Inheritance Tax (IHT) on the transfer of relevant business assets at a rate of 50% or 100%. Business Property Relief and IHT Inheritance Tax is the […]
EIS Tax Relief Explained for Investors
EIS is a tax relief scheme created by the UK Government to encourage investment into startups and early-stage businesses. As an investor, EIS benefits you by offering potentially significant income tax and capital gains reliefs when you make an investment into an EIS eligible startup or business. As a business, EIS benefits you by making […]
SEIS Scheme Tax Relief Guide
The SEIS scheme is one of four venture capital investment schemes designed to help small companies to raise money when they begin to trade. What is the SEIS Scheme? The SEIS scheme, otherwise known as the seed enterprise investment scheme, is available to small, early-stage trading companies to support raising finance by offering […]
What Are The Latest Inheritance Tax Changes?
Inheritance tax changes can affect reliefs, exemptions and other ways you are able to plan for and manage your inheritance tax liability. This means ensuring your will and any other estate planning are up to date with the latest changes and take account of the latest changes and their impact on how much inheritance tax […]
How Much is Capital Gains Tax?
Capital gains tax (CGT) is a tax levied on the profits arising from the disposal or sale of an asset, such as a second home, a buy-to-let property or a business asset. The extent to which you are liable to capital gains tax depends upon a number of factors, for example, whether you are classed […]
How to Calculate Capital Gains Tax
The amount of capital gains tax you pay will depend on a number of factors, including your income, the type of asset in question, when the asset was disposed and whether any exemptions or reliefs apply. Below we look more closely at chargeable assets and how to calculate capital gains tax based on your particular […]
Is there Capital Gains Tax on Inherited Property?
The following guide looks at how capital gains tax on inherited property applies, including how to calculate gains made by the executors or personal representatives, or those who inherit property from the deceased. Capital gains tax for executors and personal representatives As a general rule, when someone dies there is no capital gains […]
Maximising Capital Gains Tax Allowance on Property
If you are a professional landlord, property investor, sole trader or business partner, your liability to capital gains tax can be significant. It is therefore vital to consider any capital gains tax allowance on property, maximising all available relief so as to minimise any potential tax bill when you come to sell or dispose of […]
Capital Gains Tax Relief (Reduce Your Liability)
Reducing your liability to capital gains tax (CGT) requires planning and careful use of the capital gains tax relief provisions. Below we look at some of the main forms of tax relief against CGT and how you can maximise their use so as to minimise your tax bill. What is capital gains tax? […]
Which Capital Gains Tax Rate Applies?
Understanding capital gains tax rates is crucial in determining your potential tax liability following the disposal of an asset. Below we consider different capital gains tax rates and how these apply. What is capital gains tax? Capital gains tax is a tax levied on the profit when you sell or dispose of an […]
How to Determine your Estate Planning Needs
To ensure your intended beneficiaries receive the maximum from your estate, it is always recommended to fully investigate your estate planning needs now to guard against unintended parties laying claim to part of the estate. Since no two estates are the same, there is no single solution to handling your estate planning needs. Regardless of […]