More than £30 million was saved on Inheritance Tax (IHT) last year through gifting.
A new survey has found a growing gap in inheritance wealth for younger generations from different family backgrounds.
As we reach the year-end, it is essential to plan and review all available allowances or reliefs to minimise your tax liabilities, be that business or personal-related.
At a time when life expectancy is rising and healthcare is forever evolving, many Britons are living for 20 to 30 years after they retire, which is why making adequate preparations for retirement is now more important than ever before.
Recent research has found that the number of people in the UK saving enough for a comfortable retirement has reached a record 59 per cent, which is a four per cent increase on last year.
According to recent research, half of the UK’s 4.8 million self-employed workers do not have a pension and only 28 per cent feel confident they are saving enough each month. Meanwhile, of those polled, 80 per cent said freelancers face
Recent research from the Yorkshire Building Society has found that more than one person in four would see their entire savings wiped out if they suddenly lost their job or other source of regular income.
The Office for Tax Simplification (OTS) has made several recommendations about inheritance tax (IHT), including whether trustees should be made to submit IHT forms if no tax is due. In the first of two reports about the tax, the OTS