IHT receipts reach highest level since 1986

By |2017-08-05T10:58:30+00:00July 31st, 2017|News|

The amount of money paid to HM Revenue & Customs in inheritance tax has reached its highest level since 1986. In 2016/17 inheritance tax receipts were £4.84bn – 4 per cent higher than the previous year and the highest level since the current system was introduced. HMRC has said this has primarily been driven by [...]

HMRC crackdown brings in £29bn from tax dodgers

By |2017-07-31T10:58:17+00:00July 16th, 2017|News|

HMRC crackdown brings in £29bn from tax dodgers.  HMRC brought in an extra £29bn by cracking down on the minority of individuals and businesses who try to not pay the tax they owe. The figure is revealed in its annual reports and accounts for 2016/ 2017 published on 13 July, which also showed improved customer service. [...]

Five reasons to use a trust

By |2017-07-16T20:47:07+00:00July 16th, 2017|News|

Trusts are an important part of estate planning as they allow your clients to ensure that assets can be ring-fenced and managed by trustees. Let’s consider five good reasons to use a trust. 1. Managing assets Trusts are flexible, allowing your clients to tailor them to the needs of their own situations. Does your client [...]

Pension default funds under fire

By |2017-07-16T20:46:21+00:00July 16th, 2017|News|

Workplace pension schemes in which eight million people are auto-enrolled are invested in defined contribution default funds which fail to meet regulatory standards. Research from consultants Cardano, which covered most leading pension funds in the sector, shows 38 per cent of the 29 funds analysed did not have clear fund objectives, despite regulatory guidance [...]

Around 16 million workers unaware of pensions tax relief

By |2017-07-11T09:09:08+00:00July 11th, 2017|News|

Half of the UK working population, around 16 million people, are unaware that the government boosts pensions saving with pensions tax relief, according to BlackRock’s flagship investor pulse survey. The poll of 4,000 people in the UK also reveals that raising awareness of the tax relief the government provides to pension savers would entice them [...]

How HMRC can tell if you’re a tax cheat

By |2017-07-11T09:08:38+00:00July 9th, 2017|News|

HM Revenue and Customs is cracking down on tax avoidance, with several high -profile cases coming to court recently. Here are some of the ways the taxman uses to find out if you're not paying what you owe. Heading the list is events that are flagged up by the government’s Connect computer programme. This searches [...]