APR and BPR Update
APR and BPR changes. Following the draft legislation published by HM Treasury last week it is disappointing to note that the government
Trust Registration Service – It’s here to stay
The TRS (Trust Registration Service) is part of the UK’s response to the threat of money laundering and terrorist financing
How to reduce your estate for Inheritance Tax without having to wait for 7 years
A lot of clients come to me to find out how they can reduce their estate to avoid IHT and there is a simple short answer:
irrevocably give assets away (so that you no longer receive any benefit whatsoever) and survive for 7 years after you have given them away (or the value comes back into your estate).
Why tax planning advice is key for agricultural business
Farming and rural businesses often have specialist needs particularly if there is a generational change or sale of the farm.
In practice they are complex businesses and must be properly managed by an experienced accountant who understands their sector. Offering an explanation on the need for planning advice can often be the key to in depth conversations that uncover future taxation issues and help them plan ahead.