IHT receipts fall for first time in a decade
Inheritance Tax (IHT) receipts have fallen for the first time since 2009, according to data from HMRC. The amount of IHT collected in the 2019/20 tax year fell 4% (or £223m) to £5.2bn, with the introduction of the main residence nil rate band (RNRB) said to be the primary driver behind the fall. The RNRB, […]
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News in Review
“Every day, we’re protecting more people and getting ourselves one step closer to normal life” As the vaccination programme continues in earnest, on Monday, at a Downing Street briefing, Matt Hancock confirmed that 9.2 million people in the UK had been vaccinated to date, including a record 931,204 vaccinations last weekend alone. With other vaccines […]
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Self-employed? Be pension proud
Last year was challenging, with job losses and pay cuts causing many to tighten their budgets. It was particularly difficult for the self-employed, with many freelancers losing income as companies cut costs and stopped using contractors. Despite government grants being available, many self-employed workers have found they are not eligible. Almost five million people in […]
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Go green in 2021 with a grant
Launched in September 2020, the Green Homes Grant is a government scheme that allows homeowners in England to claim vouchers of up to £5,000 to help pay for energy-saving home improvements. Examples include insulating your home to reduce your energy use or installing low-carbon heating to lower the amount of carbon dioxide your home produces. […]
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Equity release market shows signs of recovery
The equity release market is gradually showing signs of recovery following the initial lockdown last spring, although activity is still below the previous year’s levels. A total of £963m of equity was released in Q3 2020 by new and returning customers, according to data from the Equity Release Council (ERC), up 38% from Q2 but […]
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News in Review
“Our immunisation programme continues at an unprecedented rate” Hosting a Downing Street press conference on Tuesday, Boris Johnson said it was “hard to compute the sorrow” after the UK passed a grim milestone of 100,000 deaths from COVID-19. The Prime Minister added, “The years of life lost, the family gatherings not attended and, for so […]
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In the News
Decimalisation 50 years on Shillings and pence were replaced with ‘new pence’ on 15 February 1971, in what proved to be quite a complex process. On ‘D-Day’ businesses had to switch their accounting and pricing to decimal, banks had to adapt their part-computerised, part-manual systems and everyone had to learn the new system, including school […]
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Put your ISA on the agenda in Q1
With the end of the tax year fast approaching (Monday 5 April), if you have cash that you don’t need to access in the short term and would like to use some or all of this year’s ISA allowance, don’t leave it too late and risk missing out on this opportunity to save tax-efficiently; remember […]
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