A Visit to St Leonards Hospice

A Visit to St Leonards Hospice

St Leonards Hospice are our charity of the year and I was delighted to spend the afternoon at the York Hub, getting to know what assistance the hospice offers.  As the name suggests St Leonards is a bricks & mortar hospice but as I learnt, so much more…. Not just...
Wills Update: Changes Ahead?

Wills Update: Changes Ahead?

The Law Commission are revisiting various aspects of their 2017 Wills Consultation, with a closing date for submissions of 8th December 2023. The law governing Wills largely stems from the Wills Act of 1837 some 200 years ago – is it high time for an update, or “if it...
HMRC tax update: Trusts and Estates

HMRC tax update: Trusts and Estates

New guidance has been issued by HMRC regarding the informal arrangements for the taxation of trusts and estates. Essentially from 6/4/2024, trusts and estates with income of all types up to £500 do not pay tax on, or report, that income as it arises. Where income...
Are you paying TOO MUCH tax?

Are you paying TOO MUCH tax?

Everyone wants to make their fair contribution, but it doesn’t make sense to be OVERpaying. HMRC figures published yesterday show that receipts from IHT are at record levels – £7.1billion in tax year 2022/23, £1 billion more than the previous year. Tax raised by...
Taxing Issues: Inheritance Tax and Capital Gains Tax

Taxing Issues: Inheritance Tax and Capital Gains Tax

You may hear the phrases “Inheritance Tax” and “Capital Gains Tax”  but not know the allowances and how these work. The inheritance tax nil rate band has now been frozen at £325,000 and will be until tax year 2027/2028. It has been at this...