Well done if you’re reading this article. According to statistics, self-employed individuals have an unfortunate habit of ignoring their future retirement. Apparently, less than one third of self-employed people save into a private pension. Given the UK’s self-employment rate is booming, and we currently have 4.8 million self-employed in the country, that’s a scary number[…] Read more »

Many landlords are going to see an increase in taxes as a result of the summer budget, when the chancellor announced his plans to reduce higher rate mortgage interest tax relief for landlords. Mortgage interest relief at source was withdrawn from homeowners 15 years ago, however, landlords still receive the relief. The budget document concluded[…] Read more »

There were significant changes from the conservatives in the summer budget, when George Osborne announced that the current dividend tax system was to be replaced. He labelled the current taxation system as very complex, archaic and that a simplification of the taxation of dividends was well overdue. The chancellor also inferred, that those who either[…] Read more »

As revealed in the summer budget 2015, the chancellor has increased the inheritance threshold (IHT) bringing substantial inheritance tax savings particularly for those people at the top end of the property market. The inheritance tax threshold is set to increase from £650,000 to £1 million for couples passing on the family home to their children[…] Read more »

Changes scheduled for 6th April 2015 will allow the tax office (HMRC) to collect tax debts more aggressively. Currently, HMRC can collect tax debts of up to £3,000 by adjusting your Pay As Your Earn (PAYE) tax code. This is known as “coding out”. Deductions for unpaid taxes taken through the coding out system allows[…] Read more »