Inheritance tax is a complicated area, but with the right advice you can ensure the best outcome for you and your family. At Foxley Kingham and GKP we have years of experience dealing with issues arising from inheritance tax. Alfie O’Dell discusses some of the most common issues our clients face.
Results for "inheritance tax"
Focus on inheritance tax
Once thought as a tax for the wealthy, inheritance tax is now something that an increasing number of us will be affected by. Rising property prices have driven up the value of estates faster than increases in the tax-free threshold, meaning that many more estates are now subject to inheritance tax.
Time to prepare – are you ready for the tax year end?
The most prudent business owners, sole traders, and individuals will already be turning their thoughts to the upcoming end of the tax year – once we’re in 2024, it’ll be April before you know it. April 2023 marked a large number of changes as a result of the winter...
Total tax receipts surge by £23.1bn
Government revenue hit £392.5bn between April and September 2023.
Total tax receipts surge by £23.1bn
Government revenue hit £392.5bn between April and September 2023.
One million more pulled into tax on savings
Over 2.7m will pay tax on cash interest in 2023/24.
Business and tax updates – what else is coming down the track?
It’s been a busy period in the world of HMRC and tax, with a number of notable changes and updates that affect sole-traders, incorporated businesses, and partnerships alike, we thought it was about time we summarised all the recent changes, and how they’ll affect...
Tax take soars by almost 10%
Total receipts for 2022/23 hit £786.6 billion.
Your tax, digital tax, and business tax – what’s changing this month?
The budget on 15 March comes after a year when the UK has had three Prime Ministers. What is scarcely remembered though is that the UK has had four Chancellors of the Exchequer in the same period. And each one has had a different view on tax. Rishi Sunak, as...
HMRC raises tax debt interest rates
The 0.5% increase will come into effect on 6 January.
Total tax take falls in November
Tax receipts were down by £5.3 billion compared to October 2022.
Year-end tax planning – practical advice on what we can do now following a season of budget updates
Following the mini-budget, the U-turn, the other various ‘tweaks’ to the government of late and most recently the new Chancellor, Jeremy Hunt’s update (and after a few attempts to write this article!) we offer practical advice on tax planning for the rest of this...
Tax take soars to £432.8bn
Total tax take for 2021/22 so far is £41.5bn higher than last year.
Tax thresholds frozen in Autumn Statement
Additional-tax rate threshold reduced for thousands of taxpayers.
HMRC raises interest on tax debt
Late payment interest rising in line with Bank of England base rate.
Tax take hits £368.9bn in six months
Income tax and National Insurance drive the increase.
Total tax take soars to £310.9bn
Income tax and inheritance tax see the most significant increases.
Number of non-dom taxpayers drops, says HMRC
Tax contributions still surpassed £7 billion.
Tax planning for mixed domicile marriages
‘Non-doms’ can benefit from a more lenient tax treatment.
Key tax changes for 2022/23
National Insurance threshold increased to match income tax allowance.
Making the most of your tax allowances before the end of the tax year
The current tax year is coming to an end and so now is an important time to make sure you’ve taken the steps needed to make the most of any tax efficiencies. The current 2021/22 tax year began on 6th April 2021 and will end on 5th April 2022. The end of the tax year,...