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Navigating the intricacies of Inheritance Tax (IHT) can be daunting, but understanding the available gift exemptions and strategic planning can significantly reduce potential liabilities. By effectively utilising annual allowances, small […]

Even if you have never been employed, you might have been eligible for NI credits without realising it. For example, if you have been a carer for a sick or […]

Deciding whether to incorporate your business in the UK involves evaluating several key factors: Limited Liability Protection Incorporating as a limited company creates a separate legal entity, safeguarding your personal […]

Health professionals providing medical services may be exempt from VAT if their work falls within their registered profession and primarily protects, maintains, or restores health. HMRC outlines specific exempt services, […]

The Bank of England’s Monetary Policy Committee (MPC) met on 5 February and in a 7-2 vote decided to reduce interest rates by 25 basis points to 4.5%. The two remaining […]

Separation and divorce can create tax implications, particularly Capital Gains Tax (CGT) on asset transfers. New rules from April 2023 extend the ‘no gain/no loss’ period, helping spouses manage tax efficiently. […]

Tax on rental income from jointly owned property depends on ownership shares, unless part of a partnership. Married couples default to a 50/50 split unless they notify HMRC of a […]