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Tax and termination payments

Tax and termination payments

The tax treatment of termination payments is governed by a detailed set of rules that determine how much is taxable and whether National Insurance contributions apply. The structure of a termination package can have a significant impact on the final tax position for...
Tax-free gifts for Inheritance Tax purposes

Tax-free gifts for Inheritance Tax purposes

Making gifts during your lifetime can be an effective way to reduce the value of your estate for Inheritance Tax (IHT) purposes. One of the most commonly used exemptions is the annual exemption. This allows an individual to give away up to £3,000 each tax year...
Tax effects of living away from your home

Tax effects of living away from your home

Many homeowners assume that if a property has been their main residence at some point, any gain made on sale will automatically be free from Capital Gains Tax (CGT). Whilst in many cases, this is correct there are exceptions. For example, periods spent living away...
Working out your UK residence status

Working out your UK residence status

Your UK residence status affects how much tax you pay in the UK and, in particular, whether your foreign income and gains are subject to UK tax. In simple terms, UK residents are normally taxed on their worldwide income and gains, while non-residents are generally...
Why cyber security is now a business survival issue

Why cyber security is now a business survival issue

Cyber security is no longer a concern limited to large corporations. Increasingly, smaller businesses are finding themselves targeted by phishing attacks, payment frauds and ransomware incidents, many of which are becoming more sophisticated through the use of...