Taxation

Rates and Thresholds The main rate of inheritance tax remains at 40%, reduced to 36% for estates where 10% or more is left to charity. The inheritance tax nil rate…

Tax Relief for Expenditure on Plant & Machinery By way of a £1million Annual Investment Allowance (AIA) and, for companies only, unlimited ‘full expensing’, your business is likely to be…

National Insurance for the Self-Employed Self-employed individuals with profits of more than £12,570 a year pay two types of NIC: Class 2 and Class 4. Two key changes come into…

Scottish Taxpayers If your main residence is in Scotland or you are otherwise classed as a ‘Scottish taxpayer’, the application of income tax rates and bands applies differently where ‘other…

As the dust settles from the rush of the January 31st tax return deadline, many of you might be taking a well-deserved sigh of relief. But as we all know,…

On top of the major changes to research and development (R&D) tax relief that took effect from 1 April 2023, there are yet more changes that take effect from 1…

You might wish to consider bringing forward capital gains to before 6 April 2024 where you haven’t used your £6,000 CGT annual exemption. This exempt amount reduces to just £3,000…

At the top of the New Year to-do list for many individuals is to make or update their Will. Many think this is something to leave until later in life,…