Personal tax changes for 2022/2023

We have several personal tax changes for 2022/2023 which will impact upon us from 6 April.   The new tax year has already started.   Some of the changes have been public knowledge for months now and some of the rises have been anxiously awaited as the country continues to face a cost-of-living squeeze.   […]

How can I use a Trust to reduce inheritance tax?

Anyone can use a trust to reduce their inheritance tax liability on their estate, enabling them to pass on more wealth to their beneficiaries.   While trusts are one of several tax-efficient ways to reduce the value of an estate, they are also the most complex inheritance tax planning method.   It’s fair to say […]

Five things to consider when forming a property syndicate

Although the property market in the UK has seen a downturn in recent years, putting money into property can still be a good choice for those wanting to invest or generate an income.   Property syndicates involve a group of investors combining their funds to make a joint investment in commercial or residential property. Here, […]

Basis period rules in line for reform (sole traders and partnerships)

Unincorporated businesses could be about to see significant changes to the ways in which they are taxed, following the launch of a Government consultation.  The Government plans to reform the basis period rules in a bid to simplify how unincorporated businesses, such as sole traders and business partnerships, allocate trading profits to tax years for inclusion […]

New HMRC advisory fuel rates from 1 March 2022

HMRC advisory fuel rates

HMRC have published COMPANY CAR ADVISORY FUEL RATES FOR USE FROM 1 MARCH 2022. The rates apply when employers reimburse employees for the cost of fuel for business travel in their company cars or require employees to repay the cost of fuel used for private travel. HMRC review rates quarterly on 1 March, 1 June, […]