Estate Planning: House prices raise inheritance tax risk

Inheritance tax is usually charged at 40% on the value of your estate over the £325,000 nil-rate band. This includes your property, money and possessions. There’s an additional allowance of up to £175,000 if you pass on your family home to children or grandchildren.  If you’re married, you can effectively combine your thresholds and transfer[…]

How to plan for your Retirement

Get on track for a comfortable retirement. If you have a defined contribution pension scheme – whether private or through your employer – your retirement savings have probably been hit quite hard by the COVID-19 pandemic over the past 12 months. That’s because pension funds invested in the stock market and recent turbulence, which has[…]

Tapered annual allowance

How it affects high net-worth individuals The tapered annual pension allowance for high net-worth individuals was in the headlines again recently. Concerns were raised that its impact on doctors within the NHS pension scheme is prompting high-earning NHS staff to leave their posts or reduce their hours. In December 2018, it was reported that the[…]

Interest Free Loans

It is common for owner managed businesses to receive loans either from the owner/director (Director’s Loan Accounts) or from related companies with common ownership. It is also normal for these loans to be provided “interest-free”. Although it may sound contradictory, under the new UK accounting standard for small companies, FRS102 (1A), there is a requirement[…]