As we step into 2025, now is the perfect time to set your financial plans in order. With changes on the horizon – like many pension pots becoming subject to inclusion in Inheritance Tax (IHT) calculations from April 2027 – it’s wise to prepare early.

Financial wellbeing involves having a positive relationship with your money, feeling secure and in control of your

It might not always be obvious you need to do a tax return, especially if you have always paid tax through PAYE, or have not been a higher-rate taxpayer.

You must submit a tax return if, in the last tax year (6 April to 5 April), any of the following applied to you:- • you were self-employed as a ‘sole trader’ and earned more than £1,000 (before taking off anything you

There are lots of reasons people don’t want to give away a slice of their hard earned cake! However, it could help you reduce your estate and therefore your Inheritance Tax liability.

1) I don’t know the rules, I don’t want to cause a problem with the tax man. 2) Don’t you have to live 7 years for it to be tax free? 3) I don’t know if I will need it myself. 4) I don’t

If you thought your pension was just your retirement savings then think again.

As well as ensuring your financial certainty when you want to stop working, a pension is a great way to support future generations. This is because defined contribution pensions are one of the most tax-efficient ways of passing on your wealth.

No tax troubles

Unlike Individual Savings

Figures released by HM Revenue &Customs (HMRC) show that IHT receipts have hit record levels while new data shows the taxman is hunting down thousands of families that have not paid the correct liability on inherited estates.

Record sums

In the first ten months of the 2023/24 financial year, HMRC collected £6.3bn in death duty receipts, £0.4bn more than during the same

With the UK in the midst of a sharp tax-raising drive, understanding the full impact of fiscal changes on investments has arguably never been so critical. One area that has been subject to particularly draconian reductions is Dividend Allowance, with changes in this area likely to have a significant impact on many investors.

Six-year slide

The annual tax-free Dividend

Succession, the hugely popular TV show, highlights the complexities of wealth transfer. There’s a lot to think about when passing on your wealth – as well as the risk of family disputes, tax implications need to be taken into consideration.

Preserving, planning and communication

As families accumulate wealth and assets it becomes important to preserve these and to plan

As the end of the tax year approaches, a prime consideration should be how external factors such as reduced or frozen allowances, together with high inflation, could impact your finances and what action you need to take before 5 April 2023.

If you are affected by the impending changes to Dividend Tax or Capital Gains Tax (CGT) announced in the Autumn Statement, have you