The Residence Nil Rate Band – 7 Key Facts You Need To Know

As we’re all well aware, the tax system in the UK (and worldwide) is, to say the least (with tongue firmly in cheek), slightly complex and getting your head around it isn’t exactly the best way to spend your valuable time! One tax that is in the news at the moment is inheritance tax (IHT). […]

Personal Pension Death Benefits – How Do They Work?

However, alongside this freedom to take money out of a pension fund, there have been some significant changes to the rules relating to the benefits which can be paid if you die with a fund you have not yet used. Money purchase funds are those where contributions are invested in a fund on your behalf. These are […]

How Can I Reduce My Tax Bill?

Q. As a high earning dentist, I pay large amounts of income tax. I get it that this goes with the territory, but I want to explore schemes which can help reduce my tax bill. What advice would you give? A. You are of course not alone in wanting to minimise the amount of tax you pay. […]

Buy To Let – Is It Still Worth It?

You may have noticed that Chancellor Philip Hammond has been very busy lately on his mission to raise taxes. The obvious one for our clients in the NHS Pension Scheme has been the lowering of the limit on the Lifetime Allowance (LTA). It has reduced from £1.8m in 2006 to £1m this April (2016)! This […]

Important Inheritance Tax Changes & You

Last year we wrote an article on Inheritance Tax (IHT) and how you could mitigate this by using joint life cover payable on second death. This was only a year ago, and already there have been major rule changes announced that can have a major effect on how much your family may have to pay […]

New Tax Free Savings Allowance, How Does It Work?

Q. I have heard that the government have introduced a new non-taxable allowance for savers in cash deposit accounts. As we have large cash savings how will this help us? A. This was announced a year in advance last March, and takes effect this April. At the moment savings are taxed at either 20% or 40% depending on […]