Statutory Residence Factsheet

Determining UK Residency – Statutory Residence Tax Factsheet Click here to view the Statutory Residence Factsheet Residence Generally speaking, an individual who is resident in the UK in a tax year will be taxable on their worldwide income and gains arising in that year. Individuals who are non-resident in a tax year are only taxed on … Continued

The Residence Nil Rate Band Factsheet

The Residence Nil Rate Band – The Residence Nil Rate Band Tax Factsheet Click here to view The Residence Nil Rate Band Factsheet The residence nil rate band was introduced in April 2017 as an additional allowance available to estates on death where there is a qualifying property that is ‘closely inherited’. This factsheet looks … Continued

Setting Up A Trust Factsheet

Setting up a Trust – Setting up a Trust Factsheet Click here to view Setting up a Trust Factsheet A family trust can provide a great vehicle for protecting and managing family assets whilst allowing the transfer of wealth to younger or future generations. What Is A Trust? A trust is a legal arrangement whereby … Continued

Pension Contributions and Tax Relief Factsheet

Pension Contributions and Tax Relief – Pension Contributions and Tax Relief Factsheet Click here to view Pension Contributions and Tax Relief Factsheet Contributing to a pension scheme allows you to make plans for retirement and ensure your income meets your future needs, it can also provide a valuable source of tax relief.  This factsheet looks … Continued

Family Investment Companies Factsheet

Family Investment Company – Family Investment Companies Tax Factsheet Click here to view Family Investment Companies Factsheet A family investment company (“FIC”) is a bespoke, tax-efficient structure which can be used in succession planning as an alternative to traditional family trusts. The arrangement enables family wealth to accumulate and be passed on to future generations, … Continued

UK Property Rental Factsheet

Renting a UK Property – UK Property Rental Tax Factsheet Click here to view UK Property Rental Factsheet An individual letting a UK rental property pays income tax on their net rental profits at their marginal rates, this can be up to 45% for additional rate taxpayers. Key facts From April 2017, landlords will automatically … Continued

Wills & Intestacy Factsheet

Wills and Lasting Power of Attorney – Wills & Intestacy Tax Factsheet Click here to view Wills & Intestacy Factsheet Why Make a Will? Making a Will allows you to make clear what your wishes are in terms of your money, property and personal possessions when you die. It should set out how you wish … Continued

Death Benefits and Tax Factsheet

Death Benefits and Tax Factsheet Click here to view Death Benefits and Tax Factsheet Major changes to the tax charge on death benefits came into force in April 2015, the changes and new charges are explained in this factsheet. Changes to Tax Treatment April 2015 saw the government bring about major changes in not only … Continued

Enterprise Investment Scheme Factsheet

Enterprise Investment Scheme – Tax Factsheet Click here to view Enterprise Investment Scheme Factsheet What is EIS? The enterprise investment scheme (EIS) was established in the 90’s to encourage investment by private investors in small, unquoted trading companies. The scheme is largely focused on assisting small companies to raise finance at the outset by offering … Continued

Accessing Your Pension Pot

Accessing Your Pension Pot – Tax Factsheet Click here to view Accessing your pension pot Factsheet The Basics For defined contribution (DC) schemes, the minimum age to access your pension pot is 55 and this applies to anyone regardless of whether they intend to retire, work part-time or full time. How an individual accesses their … Continued