The net income threshold for eligibility to claim Child Benefit has increased from £50,000 to £60,000. People with an income over £80,000 will no longer receive any Child Benefit. They must repay any amounts claimed. The tax amount will equal the Child Benefit Payment...
The new year marks the start of new beginnings, so there’s no better time to revisit your personal financial strategy. Drawing up an economic plan with clear, achievable goals can improve your long term financial health and help protect you and your family against...
By the time you’re reading this, the new tax year has started. Some of the changes have been public knowledge for months now and some of the rises have been anxiously awaited as the country continues to face a cost of living squeeze. With these changes adding to the...
Pensions usually fall outside of your Estate. Inheritance tax was thought to be ripe for reform in last year’s Autumn Budget but, as it happened, it was left untouched for another tax year. What that means is the £325,000 nil rate band has been in place since 2009,...
Increasing house prices raise inheritance tax risk. Soaring house prices coupled with certain thresholds being frozen in the most recent Budget have the potential to drag more estates into the inheritance tax net over the coming years. Back in March 2021, Chancellor...
What’s changing for the new tax year? If there’s one thing to take away from Spring Budget 2021, taking charge of your personal finances is going to be increasingly important over the next five years. With the financial fallout from COVID-19 over the last year being...
