The 2024 Spring Budget introduced some changes that will significantly impact farm businesses, especially those that have ventured into the realm of furnished holiday lets.
Several issues can lead to a law firm’s financial instability, and in some cases, actions can be taken to improve performance. However, sometimes a firm’s debt is just too large to make survival possible. What are the next steps?
If either you or your partner has an income of more than £60,000 a year before tax then you’ll have to pay back some (or all) of your Child Benefit in the form of extra Income Tax.
Now that we have embarked on a new tax year there are some considerations sole traders and partnerships should make when it comes to tax planning over the next 12 months.
Funds held in a pension are not included in valuing your estate. If IHT applies to your estate, your pension funds aren’t included and therefore won’t be subject to a 40% tax.However, as with many aspects of financial planning, it isn’t always this straightforward.