Hi folks Ten years ago I was gifted a rental property by my mother, the property had been in my family for generations. I have managed the property and declared and paid my taxes on the rental income. There was a very complicated issue regarding the title of the ... Continue Reading
When my mum died, there was nothing left to be inherited through her will. However, she and I were joint tenants of a property that she paid for, which reverted to me by survivorship on her death. It's about to be sold, and obviously I don't want to benefit and ... Continue Reading
Facts: 1. Great grandma died and her estate left £10k to each of 3 minor great-grand kids in 2020 ( under a deed of variation ) 2. Wife and husband (parents of the 3 minors) invested the monies in a ethical, sustainable investment fund, 3 accounts but nominally ... Continue Reading
Doing some IHT planning and not sure how/if the following would impact my position: 1. If I die within 7 years of making gifts but the size of my charity donations in my will means the 10% reduction in IHT is applicable (40% to 36%) does the rate after taper relief ... Continue Reading
Hi to you all. Here we go again, Inheritance tax, Tax on savings, ISA’s and 7 year rule under scrutiny. Here are three ideas I have, please tell me if one, or any of them can be achieved? My wife and I have our house and one house we inherited, which we rent ... Continue Reading
Hi all, I’d like to get some community input on a situation I’m working through with my 2024/25 UK Self Assessment. Background I’m a casual trader, working full time in employment (<£40k salary). Earlier this year, one of my leveraged positions on ... Continue Reading
Hi, My wife has a small limited business doing some consulting work which she started last year. Due to the simple nature of the business and modest level of profit it has generated to date (less than £100/month) we are trying to file the accounts / corporation ... Continue Reading
A recent partial encashment of an offshore bond in a discretionary trust as an individual (not encashment within/by the trust) generated a Chargable Gain statement - I was expecting it to be in line with the simple calculation of the value of cash receieved minus ... Continue Reading
