Tax Planning

5th September 2018

Unclaimed estates in the UK could be worth billions

According to the latest figures, there are currently 9,254 unclaimed estates in the UK. With the average value of an estate worth around £150,000, the total amount of this unclaimed inheritance could be worth billions. Property, money, personal belongings and other assets are being left in limbo instead of being passed on to relatives or […]

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15th August 2018

Most over 50s don’t understand Inheritance Tax

According to the latest research, the majority of over-50s don’t understand essential Inheritance Tax terminology. Furthermore, this lack of financial education could result in them passing on less than they expect. The research found that, of the over-50s surveyed: Fewer than 30% understood key Inheritance Tax terminology Only 27% were able to correctly identify that […]

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2nd May 2018

Inheritance Tax Law Faces Review

In a bid to simplify current UK Inheritance Tax (IHT) law, Chancellor Philip Hammond has written to the Office of Tax Simplification requesting its review. In his letter, the Chancellor described both the IHT levy and the regime as “particularly complex”. He also asked the office to consider whether the current system is fit for […]

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25th April 2018

Cohabitees Could See Surge In Pension Benefits

New legislation is being considered which would allow heterosexual couples to enter into civil partnerships. The Bill, which is currently going through Parliament, could result in a significant boost to the financial benefits cohabitees are entitled to. While Scottish law recognises cohabiting in some circumstances, UK law is behind the times when it comes to […]

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21st February 2018

How Can You Reduce The Inheritance Tax On Your Estate?

Whilst inheritance tax may never have been popular amongst those passing on wealth, recent figures suggest that it’s having a significant impact on Treasury receipts. According to official government data, almost £5 billion was collected in inheritance tax during the last tax year, representing an increase of 4% from the previous 12-month period. Many experts […]

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