Benefit in kind

Tax Card 2018/19 (Part 1)

TAXABLE INCOME BANDS AND TAX RATES   2018/19 2017/18 Starting rate* of 0% on savings up to £5,000 £5,000 Basic rate band £34,500 £33,500 Higher rate band £34,501 – £150,000 £33,501 – £150,000 Additional rate band Over £150,000 Over £150,000 Basic rate 20% 20% Higher rate 40% 40% Additional rate 45% 45% Dividend ordinary rate[…]

Posted in Tax
Tax investigation

HMRC investigations

What to expect when the Revenue comes knocking. Anyone whose business comes under the Revenue’s microscope is usually in for a roller-coaster ride. HMRC has upped its game in recent years when it comes to probing businesses or sole traders who may be suspected of falsely reporting or underpaying tax. Nobody appears to be beyond[…]

Charity

Giving to charity in life and death

How to include charitable donations in your tax planning strategy. Incorporating charitable giving into your tax planning strategy can be a useful way to reduce both your income tax and the inheritance tax (IHT) that will eventually become payable on your estate. As such, gifts may become an important component of both the estate planning[…]