A hush-hush tax probe is underway to stop wealthy investors avoiding inheritance tax with family investment companies. HM revenue & Customs set up a special unit to investigate family offices a year ago. The FICs are believed to manage more than £1 trillion in assets which are escaping IHT by exploiting legal loopholes. The main … Read more
Expats will soon collect their coding notices from the tax man, but what does the strange jumble of numbers and letters mean? Recently, tax codes have changed depending on which country in the UK where someone lives. For expats, the tax coding will appear on a Form P60 from HM Revenue & Customs which lets … Read more
If you watch how you spend your money and try hard to save, there ‘s one trick you may be missing – shareholder perks. Investors do not have to plough wads of money into a company to qualify for extra discounts and exclusive deals. In fact, they may be a lot cheaper than you think. … Read more
As the new decade starts to build up steam, many people will be thinking about their finances, work prospects and plans for retirement. There’s a lot to consider about giving up work – from whether to stop completely or to keep a hand in by going part-time. If you are thinking about retirement, here are … Read more
The number of women aged 65 and over falling into bad debt has almost doubled in the past 10 years. In 2018, 2,082 women were found bankrupt or had to enter a voluntary arrangement to pay off what they owed – 88% on the 1,109 in 2008 who faced the same financial problems. Over the … Read more
Dirty air in buy to let homes is the net issue on the agenda for hard-pressed landlords. From next year, property investors must tell renters about pollution levels in their homes before a tenancy starts. The measure is part of ‘material property information’ landlords and home sellers must make available to potential tenants or buyers … Read more
Budget 2020 was big on spending but light on cutting taxes – but pension rules have changed for the highest earners. The tapered annual allowance for pensions has been a buffer stopping doctors working longer hours because their pay arrangements meant earning more put them at risk of tax penalties as much of the extra … Read more
More than a million British expats in Europe can dip into a £3 million emergency fund set up to protect their post-Brexit residency rights. Charities and other expat support groups in the European Union can access the money with Brits living in Spain, France, Germany, Cyprus and Italy likely to benefit the most. The UK Nationals … Read more
World leaders are beginning to realise that there’s a lack of co-ordination over action to tackle the coronavirus crisis. Although doctors and academics are working together to make sense of data and come up with a vaccine, politicians are enforcing different sets of rules. In the UK, Foreign Secretary Dominic Raab has announced a three-week … Read more
A forex broker whose company was approaching financial meltdown switched £1.05 million from a business account to buy two apartments in Dubai in a relative’s name. Ehsan Tayefi, aged 39, from South West London, was the director of Numex Foreign Exchange Corporation (UK) Ltd. The company carried out foreign currency exchanges through a major platform … Read more