Inheritance Tax (IHT) planning is undergoing significant changes in the UK, making it crucial for individuals to stay informed and proactive. Recent policy shifts and upcoming reforms are set to impact how estates are taxed, emphasizing the importance of strategic planning. Key Changes to Inheritance Tax (IHT): Frozen Thresholds: The IHT nil-rate band remains at...
As we approach 2025, it’s the perfect time to consider how you can optimize your tax planning strategies. Succession planning and Employee Ownership Trusts (EOTs) are two key areas that can help you ensure the long-term success and tax efficiency of your business. Whether you’re looking to pass on your business to the next generation...
The UK’s tax authority, HMRC, has recently intensified its scrutiny of companies owning residential property. This move aims to ensure compliance with tax regulations, particularly regarding Annual Tax on Enveloped Dwellings (ATED) and Capital Gains Tax (CGT) obligations. Property – owning companies must now ensure their tax affairs are in order to avoid penalties. ...
Inheritance Tax (IHT) can significantly burden families and businesses, but Agricultural Property Relief (APR) and Business Property Relief (BPR) have traditionally helped reduce liabilities. Recent discussions on reforming these reliefs have raised concerns for farmers and business owners. Understanding these changes is essential for effective inheritance tax planning and ensuring tax-efficient asset transfers. Understanding Agricultural...
Copyright by CareAccountancy. All rights reserved.
Copyright by CareAccountancy. All rights reserved.
