Increasing inheritance benefits for couples

Couples could now save an extra £20,000 of inheritance tax (IHT), as the residence nil rate band (RNRB) increased in April 2018. The RNRB was increased at start of the new tax year and it is due to increase by £25,000 in each of the next two years, reaching £175,000 in 2020/21. It will be [...]

By | 2018-05-22T16:32:35+00:00 May 22nd, 2018|Uncategorised|0 Comments

The pressure is dropping on inflation

UK inflation is falling faster than expected, as the March figure for the Consumer Price Index (CPI) was 2.5%. This March figure, published in mid-April, surprised forecasters, who had predicted annual inflation would remain at 2.7%, as in February. That February figure was itself a surprise, as the forecasts had predicted 2.8%. The drop for [...]

By | 2018-05-22T16:27:39+00:00 May 22nd, 2018|Uncategorised|0 Comments

Taking early advice on your tax return

HMRC is starting the tax year with their annual reminder to submit your tax return. HMRC’s reminder might seem early, but its statistics show that 750,000 people (6.5%) missed the deadline for 2016/17, potentially facing an immediate £100 penalty, even if they had no outstanding tax to pay. Anyone with a 2016/17 return still outstanding [...]

By | 2018-05-22T16:07:20+00:00 May 22nd, 2018|Uncategorised|0 Comments

Repayment threshold increases for student debt

The income threshold at which student loan repayments begin rose on 6 April 2018. English and Welsh students who started their courses after 31 August 2012 can now earn £25,000 a year – up from £21,000 – before they have to start repaying their student loans. The increase could provide a saving of £360 a [...]

By | 2018-05-22T16:05:03+00:00 May 22nd, 2018|Uncategorised|0 Comments