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Feb 08, 2017
Inheritance tax exemptions can be a useful way of helping minimise any future inheritance tax liability. Inheritance tax is often seen as tax on already taxed income, but it is in part the notional tax on the untaxed growth of assets such as property and investments on death.
One of the government’s most adventurous inheritance tax initiatives announced in the 2015 budget will help families reduce their IHT burden and allow them to pass on the family home for all but the very largest estates. – Read More
Further detail has emerged (in a leak to the Guardian newspaper) concerning a new Inheritance Tax (IHT) allowance announced in the Conservative Party election manifesto to set against the value of the family home. – Read More
The dog ate my tax return is not a reasonable excuse! However, it has been announced that HMRC will not contest appeals against the £100 late filing penalty in respect of 2013/14 tax returns, where the taxpayer provided a reasonable excuse for not filing on time. – Read More