Beneficiaries could see inherited pensions taxed as new proposals by HMRC are published
Currently, if someone dies before the age of 75, their pension can be drawn out by beneficiaries’ tax-free, as it is exempt from Inheritance Tax and Income Tax if it is under the Lifetime Allowance (LTA).
HM Revenue & Customs pledge £5.5 million to support customers
HM Revenue & Customs (HMRC) has recently stated that they will pledge £5.5 million to organisations who are in the voluntary and community sectors to help support customers organise their taxes.
Understanding ESG investments – What should you know?
The financial landscape in the UK, as well as globally, is in a constant state of change.
How businesses can tackle late payments while preserving business relationships
There can be nothing more frustrating for business owners than waiting on payments from clients.
The hidden economy: What income should you declare?
The number of individuals participating in the UK’s ‘hidden economy’ is increasing according to recent research. A surge in additional income streams, from moonlighting to online trading, has led to millions of taxpayers failing to declare additional earnings to HM
Management accounts: The importance of having a clear view of your business during uncertain times
In times of economic uncertainty, businesses should have a clear plan to ensure that they can navigate any potential financial pitfalls. One of the best ways businesses can do this is with the use of management accounts. What are management
Time to exit: New research shows many business owners are planning ahead
New research from wealth management firm Evelyn Partners has revealed that the majority of business owners with companies that earn more than £5 million annually are preparing for an exit. With 65 per cent of UK business owners contemplating the
Are banks supportive of SMEs and willing to assist their growth?
Small and medium-sized businesses (SMEs) have struggled to access finance from banks for a while, with many having to turn to alternative lenders and sources to secure much-needed funding for investment. However, the scale of this issue has not previously
Inflation and increased interest rates – What does it mean for businesses?
Office for National Statistics (ONS) data revealed that the Consumer Price Index (CPI) – the official measure of inflation – only fell to 8.7 per cent in the 12 months to May 2023. While the rate of inflation is not
HMRC sets its sights on SMEs over UK tax gap
The tax gap in the UK – the difference between the amount of tax owed and the amount that has been paid – remains wider than anticipated due to SMEs, according to HM Revenue & Customs (HMRC). The tax authority’s
