Married couples and civil partners can gift each other assets and there will be no Inheritance Tax (IHT) charge on the lifetime gift as long as the recipient is domiciled in the UK. However, transfers to others that are not covered by the reliefs listed at the end of this article, are treated as potentially […]
Monthly Archives: May 2016
When you reach the State Retirement Age (SRA) you stop paying Class 1 NIC contributions if you are employed, and Class 2 contributions if you are self-employed. You will still have to pay Class 4 NIC, the most significant self-employed NIC charge, for the entire tax year during which you achieve the SRA. The next […]
Our government have selected their top-ten tax changes that come into effect from 6 April 2016. Just in case you need a refresher they are: 1.The personal allowance will increase to £11,000 and the higher rate threshold will increase to £43,000. 2.The marriage allowance, the tax free amount which people can transfer to their husband, […]
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