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New research has put some surprising numbers on the income needed in retirement.

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The introduction of a £500 income exemption from 6 April 2024 will impact many trusts. It comes with various complications, especially as income within the £500 exemption will still be taxable in the hands of beneficiaries.

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The number of trusts filing self-assessment tax returns for 2021/22 was 37% lower than for 2003/04. The decline comes as no real surprise given the eroding advantages of using a trust and the recent requirement to register trusts with HMRC.

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State pension increases could be outpacing inflation next April, and there’s no guarantee of the Triple Lock surviving the next election.

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Most people draw their state pension as soon as it becomes available, but If you do not make that claim your state pension is automatically deferred until you choose to claim it.

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If an English or Welsh domiciled person dies without leaving a will, the amount that a spouse/civil partner can inherit has increased.

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The average IHT bill is now nearly £62,000, with much larger amounts payable if an estate includes a property in London or the South East.

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New data from HMRC show the Treasury’s inheritance tax (IHT) receipts have doubled since 2012/13. Source: HMRC. Of all the various taxes levied in the UK, IHT is one of

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You may not be aware of some new legislation which has been announced that forces nearly all trusts to register with HMRC before 1 September 2022, whether or not they

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The normal minimum pension age (NMPA) will increase from 55 to 57 on 6 April 2028, although a protected pension age regime will be introduced. This will allow those who

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Drawing up your will features high on the list of things you might wish to postpone to a later date along with going to the dentist.  However, it is usually

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For married couples, the nil-rate band for inheritance tax was effectively doubled last year, meaning that IHT is only an issue when your combined assets are worth more than £650,000. But it’s