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What is it? Inheritance tax is a taxing of the estate of someone who has just died. Inheritance tax only occurs on any inheritance above the threshold of £325,000. If the value of your estate is above this threshold, known as the nil rate band (NRB) of £325,000; then the part of your estate that […]
With the deadline for submitting paper returns already passed, it is now the final countdown to completing your tax return online. You now have until the 31st January to get this done; bare in mind if it’s your first time the information needed from HM Revenue and Customs can take up to 20 working days. […]
Last week Chancellor Philip Hammond stood in the House of Commons and gave the Autumn Budget. After raising a few eyebrows when he delivered his first budget last spring, we have put together the key announcements. Business Rate These will now increase by Consumer Price Index (CPI) which will come into effect in April 2018, […]
We recently spoke about the growing consumer credit topping £200bn for the first time since 2008. Now reports are confirming a startling warning given by the Bank of England in a bid to warn of risks to the economy. The British economy had once relied partly on the population to invest in buying new cars […]
Borrowing totals for UK tops £200bn for the first time since the global financial crisis. This consists of overdrafts, credit cards, loans and overdrafts. With Britain’s financial watchdog hounding in to rein in the expanding consumer debt, it’s clear to see that the figures published by the Bank of England have mounted pressure on regulators […]
We’ve all been keeping an ear to the ground regarding the latest manifestos and their contents. One of the most vibrant of which is the idea behind Labour’s Corporation Tax increase up to 26%. Over the last 5 decades we have seen the rates introduced at 40% and quickly rose to 45% 4 years later […]
To be a successful business in today’s technical landscape you need more than just virus protection and firewalls to be secure against ever increasingly sophisticated cyber criminals. The frequency that these attacks are occurring is increasing day by day and attackers have now turned their attention to smaller business as well. Usually, because the protection […]
It has long been acknowledged that small to medium sized businesses are the cornerstone of the British economy. Accounting for more than half of all the employees within the private sector, and contributing to more than half of Britain’s overall annual GDP. Collectively they both innovate and enhance the UK’s business environment so, it comes […]
Theresa May has announced that the UK may leave the EU single market, hopefully, this doesn’t come as a surprise, because whether you voted to leave or remain if we didn’t would we really be out of the EU anyway? This announcement has brought about many questions as to what could happen when this becomes […]
Starting a small business is often fraught with issues, risk and the unknown. Getting your feet off the ground as a small business is undoubtedly the hardest challenge you will go through in your life. To make that process slightly easier, we have collated some of the most common financial mistakes and issues that small […]