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Five ways to cope with higher business taxes
At a glance In the past two years, small and medium-sized enterprises (SMEs) have faced a troubling swathe of changes to the business and personal tax regimes, including significantly higher Corporation Tax rates for many. Bigger HMRC bills this year are forcing firms and their owners to adjust plans and look for ways to soften […]
Read MoreReduce your Capital Gains Tax bill by splitting assets with your other half
At a glance Thinking of selling your second property? Cashing in a share portfolio? When you sell an asset that’s gone up in value since you bought it, you may have to pay Capital Gains Tax or CGT on your profits. One possible way of reducing this tax bill, is by giving an asset away […]
Read MoreHow to mitigate your Inheritance Tax bill
At a glance Nobody likes talking about death, and many of us aren’t that keen about talking money either. So it’s not surprising that many of us put estate planning, and IHT strategy, on a back burner. However, while we might not enjoy talking death and taxes, one thing’s for certain. Nobody wants to pay […]
Read MoreWill paying for long-term care affect my inheritance planning?
At a glance Many of us find it hard to think about ourselves, or our parents needing help as we get older. And when we do start to think about it – perhaps in our 50s or 60s – the cost implications can make us wince. The high cost of social care can quickly swallow […]
Read MoreNavigating the Spring Budget: Opportunities for Tax Efficiency and Financial Planning
This year’s Spring Budget arrived a tad earlier than usual amidst a backdrop that’s become all too familiar in recent years: rampant speculation and anticipation. Much of the pre-budget discourse centred around potential pre-election tax cuts, with National Insurance reductions leading the pack, and the balancing act of tax increases, notably targeting non-Domiciles and investors […]
Read MoreGrowing firms face challenges, but there are positive signs for the year ahead
At a glance News that the UK went into recession at the end of 2023 is a reminder of the tough economic environment facing small businesses. But despite this, the outlook for SMEs in the UK is cautiously optimistic. According to figures from the British Chambers of Commerce, business confidence improved in Q4 of 2023, […]
Read MoreUsing pensions and ISAs to reduce your tax bill
At a glance Many of us will face bigger tax bills this year. With the personal allowance frozen until 2027/28, plus the additional rate threshold dropping to £125,140, taxes will increase by £40 billion by 2028, according to the Institute for Fiscal Studies.2 In addition, the tax-free allowances for Dividend and Capital Gains Tax will […]
Read MoreWhy tax planning is crucial from launch: your start-up to-do list
At a glance Tax planning can feel like a low priority for new business owners as you understandably focus on getting sales and operations off the ground. But optimising your tax position is just as valuable in a start-up as it is in larger organisations. Smart fiscal planning from launch can significantly impact your cash […]
Read MoreEverything you need to know about tax in retirement
At a glance Once you retire, you pretty much stop paying into your pension and started drawing it. However, many people keep contributing, or keep their pension invested for most of their retirement. Understanding how your tax position changes when you stop working is an important practical step to staying financially healthy and secure when you retire. […]
Read MoreUnderstanding your emotions can make you a better investor
At a glance In this article, we look at the four most common emotional responses triggered by money – and how you can manage them. Everyone is prone to letting their heart rule their head on occasion. But if you want to be a better investor, leave your emotions at the door. Why is investing […]
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