Let Property Campaign: 5 Things Landlords Should Know About Undeclared Rental Income Did you know there is an HMRC campaign specifically for landlords who need to put their tax affairs right? If you have received rental income that hasn’t been fully declared to HMRC, dealing with it sooner rather than later can make a significant […]
“Under “staircasing” – a purchaser of a part-share of a property has the choice between: Electing to pay any SDLT due now based on the property’s full market value at that time, or Paying no SDLT until the purchase of further share(s) takes their ownership share over 80%. If a purchaser elects to […]
“I Want to Reduce Inheritance Tax… But I’m Not Ready to Let Go.” If I had £1 for every time someone told me: “I’d like to reduce inheritance tax… but I’m just not ready to hand everything over to the children.” …I’d probably have enough to pay the inheritance tax myself. It’s one of the […]
How much is too much??? Issue Mrs A approached ETC Tax to review her Inheritance Tax position. Her estate was valued at approximately £1.5 million, including her home, savings and investments. She wanted to provide financial support to her children and grandchildren during her lifetime but was concerned about giving away too much, the potential […]
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Equal Isn’t Always Fair: Passing a Family Business to the Next Generation One of the most difficult conversations we have with business owners rarely starts with tax. Instead, it starts with a simple question. “I’ve got two children. One has worked in the business for years. The other has never been involved. How do I […]
The Inheritance Tax Planning Mistake We See Time and Time Again It’s probably one of the most common inheritance tax questions we get. “Can I just put my house in my children’s names and avoid inheritance tax?” On the face of it, it sounds like a sensible idea. After all, if you no longer own […]
Should You Give Money to Your Children Now or Leave It in Your Will? Discover the pros and cons of lifetime gifts versus leaving an inheritance in your will, including UK inheritance tax (IHT) considerations and planning tips. One of the most common estate-planning questions parents ask is whether they should give money to their […]
Family Investment Companies: 15 Questions People Ask Before Setting One Up A family investment company (FIC) is a UK-resident private limited company where the shareholders are family members. It is typically set up to make or hold investments such as cash, loans, properties and share portfolios to generate income or capital growth. FICs have become increasingly popular as, for some […]
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