by AJN Accountants | Dec 23, 2024 | Advice
HMRC has tightened up the process for claiming tax deductible employment expenses following a series of high-profile scandals. If you incur job-related expenses of up to £2,500 which are not fully reimbursed by your employer you may be able to claim tax relief. For...
by AJN Accountants | Dec 20, 2024 | Pensions
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,...
by AJN Accountants | Dec 18, 2024 | Tax Planning
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...
by AJN Accountants | Dec 9, 2024 | Property
The stamp duty land tax (SDLT) surcharge levied on purchases of second and subsequent homes has been increased from 3% to 5% with immediate effect. The higher rate applies to purchases of second homes and buy-to-let residential properties. The change applies to...
by AJN Accountants | Nov 26, 2024 | Tax Planning
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...
