There has been a lot of murmuring in the press and Parliament this year about the Conservative Party giving serious consideration to the abolition of Inheritance Tax so Louise looks at the future of IHT in this blog.
Personal Tax Planning
Reducing Last Year’s Capital Gains Tax with Gift Aid
If you are a higher rate taxpayer, you can reduce your tax bills by electing for any gift aid donations that you will be making in the current year (2023/24) to be treated as being made last year for tax purposes.
From Employed to Self-Employed: Tax Relief on Pension Contributions
Typically, when an individual is in employment, they will make regular pension contributions to an occupational pension scheme. This is usually dealt with entirely through the payroll of the employer.
How will the changes to sole trader and partnership taxation affect me?
The way in which HM Revenue & Customs taxes sole traders and partnerships is changing and you may have seen these changes referred to as ‘basis period changes’.
I think I have paid too much Stamp Duty Land Tax – am I entitled to a refund?
You can make a claim to obtain a refund if no more than three years (36 months) has lapsed between the purchase of the new property and the sale or ‘giving away’ of the old property.
Personal & Marriage Allowance, Income Tax and Student Loans 2023/24
In a series of blogs we will be providing a summary of some of the changes, starting with the personal allowance and marriage allowance.
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