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It is often said that inheritance tax (IHT) is a voluntary tax, and one that can be avoided if you give away sufficient assets at least seven years before you die so the value of your estate is sheltered by your available nil rate bands. This is not always practical – people do not generally
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Individuals making capital disposals do not pay capital gains tax if their net gains for the tax year (chargeable gains less allowable losses for the year) are covered by the annual exempt amount. This is essentially a personal allowance for capital gains tax purposes, and each individual is entitled to their own annual exempt amount.
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Paying National Insurance contributions allows individuals to earn qualifying years, which in turn provides them with entitlement to the state pension and certain contributory benefits. Entitlement may also be provided by the award of National Insurance credits. State pension entitlement A person reaching state pension age on or after 6 April 2016 needs 35 qualifying
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Earlier in the year, it was erroneously reported in the press that new tax rules were coming into force which would mean that anyone selling online would need to tell HMRC and pay tax on their earnings. There is, however, no change in the tax rules, which apply to online sellers as they do to
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On 8th May, many British workers look forward to a well-deserved day off to relax or spend time with loved ones. However, whether this date is a bank holiday can vary from year to year, as the UK government announces these national holidays based on special events or annual traditions. In this comprehensive article, we’ll
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Get ready for a complete guide to UK Bank Holidays 2024! These special public holidays are a cherished tradition in the United Kingdom. During which banks, businesses, and schools are typically closed. These holidays hold a significant place in the national calendar, as they provide individuals with a well-deserved break from their daily routines. UK
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