Budget 2024
Budget 2024 – Now that was a budget to get our teeth into. Having spent the afternoon reading various budget documents, here are my thoughts
How to reduce your estate for Inheritance Tax without having to wait for 7 years
A lot of clients come to me to find out how they can reduce their estate to avoid IHT and there is a simple short answer:
irrevocably give assets away (so that you no longer receive any benefit whatsoever) and survive for 7 years after you have given them away (or the value comes back into your estate).
Will a Labour government mean changes to taxation?
I am increasingly being questioned by clients on what the likely taxation impact of a new Labour government is if they win the next General Election and whether they should make changes now.
Well let’s look at what has been said, the party has ruled out increasing rates of income tax, NI, corporation tax and VAT stating they have “no plans” for further tax increases and that the party’s plans requires no additional tax to be raised.