Inheritance Tax

Did you know? Nearly half of retirees to be hit by Inheritance Tax bill. According to data analysis, approximately 46% of individuals aged 85 to 89 receive a State Pension that exceeds the £12,570 tax-free personal allowance, meaning they must pay income tax on their pension income. For retirees aged 90 and above, this figure stands at 45%. Among those under 85, around 22% are also taxed on their State Pension income — effectively subject to a so-called ‘retirement tax’.

Between the 1970s and 1980s, around 5,000 haemophiliacs and other blood disorder patients in the UK were infected with HIV or hepatitis viruses after receiving contaminated blood products from the NHS. Nearly 3,000 died as a result. Under current UK inheritance tax laws, only the first direct heir is exempt. Any subsequent inheritance of that scandal compensation is subject to up to 40% tax.

Recently, the Department for Work and Pensions (DWP) issued a new statement announcing that, due to a historic state pension error, over 130,000 individuals have received a total of approximately £800 million in backdated state pension payments.

On 18 March 2025, the UK welfare system reached a turning point. Liz Kendall, Secretary of State for Work and Pensions, firmly announced in Parliament a ‘surgical’ reform of the social security system, aiming to strip £5 billion annually from public welfare spending. The sweeping reforms targets 34 different benefits, from disability allowances to chronic illness support.

From April onwards, various UK tax changes, along with rising household bills, have created new challenges and opportunities in personal and business financial planning. Of particular concern for foreign nationals residing in the UK is the new policy which took effect on 6 HMRC first introduced the concept of Making Tax Digital (MTD) in 2015, with the aim of phasing out paper-based tax returns and shifting to digital submissions via approved software — ushering in a system

Changes to Employee Benefits and Key New Regulations for Businesses and Individuals. Whether you're self-employed or run a limited company, the 2025/26 tax year brings several important changes—impacting Employer National Insurance Contributions (NICs), minimum wage rates, company size thresholds, and Capital Gains Tax (CGT), among others.

With the new financial year, a series of tax increases announced in last autumn’s budget came into effect. These changes impact not only income tax, corporation tax, and capital gains tax but also pension reforms, national insurance adjustments, and taxation on high earners and new UK residents’ global income.

On the 26th March 2025, the Chancellor Rachel Reeves delivered the highly anticipated Spring Budget statement.

Pension Annuities: The Right Way to Relax and Get Paid After Retirement

Did you know that you can make donations to save on your tax bill?

Farmers Protest New Inheritance Tax Policies.

Inflation Puts Pensions at Risk of "Shrinking" – 90% Tax on Inherited Pension Funds?

Following significant reforms to UK inheritance tax rules introduced by Chancellor Rachel Reeves in what has been dubbed the largest tax-rai

In the UK, if children inherit assets worth more than £325,000 from their parents, HMRC will an inheritance tax.

Recently, Steve Reed criticized the previous Conservative government, stating it ‘deliberately obscured’ the true state of public finances.

The Chancellor of the Exchequer Rachel Reeves announced Labour’s first Autumn Budget since taking office earlier this y

When it comes to inheritance tax, setting up a trust is often viewed as an effective way to reduce taxes.

If you inherit an estate from family or relatives, you are required to pay inheritance tax to HMRC.

In this day and age, more and more people are choosing not to get married. However, in terms of tax, married couples can enjoy benefits.

We’re now in a new tax year.  If you were employed in the previous year, have you checked your P60?