Inheritance tax (IHT) is becoming an increasing concern for many UK families. With the nil-rate band of £325,000 and the residence nil-rate band of £175,000 frozen until 2030, more estates are being caught in the tax net due to rising property values. According to HMRC data, IHT receipts have surged to £8.2 billion from April...
How to Avoid a Will Dispute Creating a Will is essential for ensuring your estate is distributed according to your wishes after passing. However, disputes over Wills are more common than you might think. Family disagreements, unclear instructions, and questions of legality can all lead to challenges in court. Taking a few proactive steps can...
Running a small business in the UK comes with many responsibilities, including staying on top of your taxes. Effective tax management can significantly impact your bottom line, freeing up resources for growth and development. Here are some top tax-saving strategies for small businesses to help you navigate the complexities of the UK tax system. ...
As a Muslim living in the UK, it is crucial to ensure that your wealth and assets are distributed according to both Islamic principles and UK laws after your passing. This is where an Islamic Will, or “Wasiyyah,” becomes vital. By drafting an Islamic Will, you ensure that your estate is distributed in line...
Understanding your ownership structure is vital when co-owning property, especially if you wish to control how your share of the property is handled after your passing. One important legal concept for property owners is the severance of tenancy, a process that can protect your interests and ensure your estate is distributed according to your...
At Care Accountancy, we understand the importance of efficient probate processing for our clients. In recent developments, the Probate Service has significantly reduced the turnaround time for digital probate applications, particularly in straightforward cases. This improvement is a welcome change for many families navigating the complexities of estate administration. Significant Reduction in Processing Delays...
Family Investment Companies (FICs): A Guide to Multi-Generational Wealth Succession Planning At Care Accountancy, we are dedicated to providing comprehensive financial strategies to help families manage and preserve their wealth across generations. One increasingly popular method for achieving this is using Family Investment Companies (FICs). In this blog, we will explore the benefits, structure, and...
Unoccupied Property Insurance During Probate: Why It’s Essential, What It Costs, and How to Secure It At Care Accountancy Ltd., we understand that navigating the probate process can be overwhelming, especially when it comes to managing unoccupied properties. Ensuring these properties are properly insured is crucial to safeguarding the estate’s assets. In this blog,...
The landscape of inheritance tax (IHT) in the UK is evolving, with an increasing number of estates being drawn into the IHT net. The number of deaths resulting in an inheritance tax (IHT) charge in the 2021/22 tax year rose by 3 per cent to 27,800, according to HMRC figures. This is about 4.4 per...
Business succession planning is essential for long-term business growth and continuity. Financial experts understand that involving an accountant can significantly enhance the process. Financial Analysis: An accountant can help analyze the company’s financial health, essential for business succession planning. Understanding the company’s financial performance and potential impacts on the succession plan is vital to make...
Copyright by CareAccountancy. All rights reserved.
Copyright by CareAccountancy. All rights reserved.
