A new pension ruling for April 2014 will implement a lower ‘lifetime allowance’ of £1.25m. So the clock is ticking to become tax efficient, have the most flexible retirement income strategy and avoid hefty tax penalties.
It’s easy to focus on what to spend your money on here and now, but not so easy to invest it for your future spending. And it’s even less easy to make plans for what will happen when you die.
Before seeking professional advice, here are some useful stages and principles to follow if you’re looking to reduce inheritance tax. Duncan Ellis gives us some crucial advice.
As part of Small Business Advice Week we are running a series of articles with helpful advice and tips for SMEs. Today, Nick Heys discusses how when it comes to selling your business, it’s the detail that will save you thousands of pounds.
What is Tax Freedom Day and what can taxpayers and small business owners do to reduce their tax burden? Jo Nockels explains.
Did you know you can now be charged £1,600 or more in fines for the late filing of your self-assessment tax return? Jo Nockels explains.
More Tax Action tips from TaxCalc! This time it’s reviewing your payments on account… If you are currently making payments on account under the self-assessment scheme the default position is that they are based on the previous year’s tax bill. If your taxable income is increasing year on year then there is no need to review them
Minesh Patel talks tax planning tools for clients in his guest ‘Diary of an adviser‘ blog, supporting unbiased.co.uk’s Tax Action campaign sponsored by TaxCalc. You can view Minesh’s unbiased.co.uk profile here. Many of my clients get very excited by investments that save them large amounts of tax such as Venture Capital Trusts. VCTs, with the 30%
More Tax Action tips from TaxCalc! This time it’s business mileage… Another common area where taxpayers fail to claim relief, is on use of a private vehicle for business purposes. HMRC publish approved mileage rates currently 45p per mile for the first 10,000 miles and 25p per mile over the 10,000 miles. If your employer does not
Tax Action 2013 sponsors TaxCalc explain in their Tax Action tips blog why it can pay to include your charitable donations in your tax returns… When it comes to making donations to charity via the gift aid scheme, the charity you donate to will receive an additional payment of basic rate tax from HMRC. So if you donate £100
Jaskarn Pawar shares his experiences in our ‘Diary of an adviser’ blog and reveals why it pays to take your time when making important financial decisions. You can view Jaskarn’s unbiased.co.uk profile here. Rushing to meet the deadline isn’t the best advice for everyone I spoke to a client yesterday who was looking to make