Planning Articles

HM Revenue & Customs is arguably generous with tax perks when it comes to pensions. You’ll get the basic rate of tax at 20% paid by HMRC, and those who pay income tax at a higher or additional rate can claim additional relief on a self-assessment tax return to bring the total relief to either 40% or 45%.

The rising cost of living reduces spending power unless your money is growing faster than the rate of inflation.

Understanding how to pass on wealth in the most tax efficient manner is key to cutting the amount that HM Revenue & Customs (HMRC) can claim when it eventually comes to assessing inheritance tax (IHT).

A whole host of tax rises and cuts to allowances will soon be upon us. Income tax bills are to rise as the bands for basic and higher rate were frozen in the Autumn Statement by Chancellor Jeremy Hunt.