If you are a high-net-worth individual looking for efficient tax planning, a Qualifying Non-UK Pension Scheme (QNUPS) is definitely an option worth exploring. QNUPS are relatively new in the pensions market and offer some benefits over other pension solutions. However, they may not be suitable for everyone and it is important to weigh the pros and…
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If you’re wondering when the right time to start estate planning is, the answer is simple: it’s now. Our comprehensive guide will explain the importance of estate planning and why you should begin sooner rather than later. Have you thought about what will happen to your assets and belongings after you’re gone? While it may…
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The end of the year presents an excellent opportunity to look back at those significant life events in the past 12 months and assess their impact on your estate plan. This is also an ideal time to ensure your plan remains current and aligned with your primary goals. When and why revisions might be needed …
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Do you want to support grassroots businesses in the UK? Did you know that you can also benefit from certain tax reliefs by doing so? One such relief is Business Relief (BR), an often overlooked but valuable tool for any business owner or investor looking to reduce their inheritance tax bill. What is Business Relief? …
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Today, we consider a topic that is uncomfortable for some and even taboo for others. It’s a topic that we see and hear about every day of our lives and an event that happens to everyone at some point. Some modern-day philosophers say only three things are ‘guaranteed’ in this life: death, divorce and…
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Learn about the tax and residency rules and considerations for UK retirees abroad. Find out how to minimize taxes on pensions, navigate capital gains tax, plan for wealth tax, and prepare for any inheritance tax liabilities that arise. Choose a country with a low or favourable tax regime as your retirement destination whenever possible. Discover…
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Retirement can be a time to relax, but it can also be stressful, especially if you haven’t adequately prepared for it financially. So many unexpected things can happen during your golden years, all eating into your existing provisions and leaving you short. Changes in your general health and healthcare and increasing living costs, to name…
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Inheritance Tax (IHT) is not a popular topic of conversation, but it’s an essential one. IHT is a tax that applies to people’s assets when they die, and if you’re not careful, it can significantly reduce (40% after allowances) the value of the assets you leave behind for your loved ones. Unfortunately, just under half of…
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Are you aware of the latest ruling from HM Revenue & Customs regarding Inheritance Tax (IHT) and domicile? In the recent decision, HMRC brought a court claim against an individual they believed had wrongfully listed their father’s domicile as being outside of the United Kingdom to avoid paying IHT. All those paying or expecting to…
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You may or may not know that receipts from inheritance tax payments are still on the rise. Recent figures published by HMRC show that an increasing number of families in the UK are now paying more inheritance tax (IHT) than before, and this trend is likely to continue. The HM Revenue & Customs (HMRC) report…
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