Pension to lose IHT exemption

Pension to lose IHT exemption

At the Autumn Budget the Chancellor announced plans to remove the exemption which allows unused pension funds to be inherited tax free. Currently, if a pension holder dies before the age of 75 their beneficiaries can generally inherit the remaining funds tax-free,...
Non-doms regime abolished

Non-doms regime abolished

As expected, the Chancellor has confirmed the abolition of the generous tax regime enjoyed by non-UK-domiciled individuals, or ‘non-doms’. Broadly, the current rules apply to a UK resident whose permanent home – or domicile – for tax purposes is outside...
Inheritance tax reform

Inheritance tax reform

The Chancellor has extended the current freeze on inheritance tax (IHT) thresholds until 2030 and announced changes to the treatment of inherited pensions and other IHT reliefs. The nil-rate band (NRB) is the amount of any estate that can be inherited tax free. It has...
Bad news for hybrid vehicles

Bad news for hybrid vehicles

Showing renewed commitment to promoting electric vehicles over petrol, diesel and hybrid models, the Government has extended the 100% first year allowance for zero-emission cars. Businesses and individuals can continue to deduct the full cost of zero-emission vehicles...
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