Income tax is one of the UK’s three vital revenue streams for the government’s coffers. In 2023-24, it raised £277 billion for the Treasury. Together with VAT and National Insurance (NI) contributions, income tax comprises…
How to maximise tax-efficient capital gains in 2024 3>
How do you protect your capital gains from needless tax? This question has become more pressing to UK investors since April 2024, when the Government lowered the tax-free capital gain tax (CGT) allowance from £6,000…
A new tax year (starting in April) offers a great opportunity to optimise your finances to keep more of your hard-earned income, savings and returns. With the arrival of 2024-25, many clients in Grantham and…
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…
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,…
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…
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…
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,…
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…
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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