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Taxation

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Taxation
March 5, 2024

How to keep capital gains tax under control 3>

As an investor, you want to keep taxes on your returns at a minimum. Capital gains tax (CGT) can be levied on the profits you earn after “disposing of” (selling) certain assets – such as…
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Taxation
January 22, 2024

How not to overpay on tax in 2024 3>

The UK currently faces its highest tax burden in 70 years, set to rise to 37% of national income in 2024. The Chancellor has hinted that tax cuts could arrive in the upcoming Spring Budget,…
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Taxation
October 9, 2023

You can still maximise the 2023-24 tax year 3>

One of the best ways to put more hard-earned money back into your pocket is to maximise your tax allowances. Yet many people are confused about how the tax year works, which allowances they can…
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Taxation
September 1, 2023

Can I save tax through charitable giving? 3>

Giving to charity is not only a noble act by contributing towards a good cause. It can also help with mitigating a tax bill. Below, our Lincolnshire financial planners show how this works in practice…
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Taxation
June 26, 2023

Get the most from the 2023-24 tax year 3>

The UK tax year, lasting from 6 April until 5 April, is an important “window” to take advantage of allowances and other tax benefits which could put you in a better financial position. In 2023-24,…
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Taxation
April 25, 2023

“Giving while living” and inheritance tax 3>

Dealing with inheritance tax (IHT) is often assumed to be dealt with at a person’s death. Yet you are not limited to planning your estate for this one-off event. You can also mitigate IHT by…
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Taxation
February 17, 2023

Tax freezes and your financial plan 3>

Some taxes are immediately noticeable, such as income tax and National Insurance. Others are less obvious and are classed as “stealth taxes” – applying an indirect eroding effect on your wealth and finances. Value Added…
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BusinessTaxation
January 17, 2023

How does Business Asset Disposal Relief work? 3>

When you sell an asset for a profit (e.g. shares in an investment account), there is often a tax – capital gains tax (CGT) – applied, undermining your returns. One of the advantages of being…
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Taxation
November 27, 2022

5 ideas to cut your capital gains tax bill 3>

With the recent Autumn Statement announcing a cut in the capital gains tax (CGT) allowance in April 2023 and April 2024, many investors are looking for legitimate ways to reduce a needless tax bill. Fortunately,…
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SavingsTaxation
October 20, 2022

Beware of taxes on higher savings rates 3>

UK interest rates have risen 7 times since late 2021, from a historic low of 0.10% to 2.25% at the time of writing. The Bank of England’s (BoE’s) decision to do this has led other...
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