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Pre-Budget tax planning – act now

Pre-Budget tax planning – act now

With the next UK Budget approaching, there is speculation about changes to tax rates, allowances, and reliefs. Acting now can help secure current benefits before any new rules take effect. Key areas to review: Personal allowances – make sure you are using your...
Who can claim the IHT residence nil rate band

Who can claim the IHT residence nil rate band

With the Residence Nil Rate Band (RNRB), families can pass on up to £1 million without IHT The RNRB is an additional £175,000 Inheritance Tax (IHT) allowance that applies when a person’s main residence is passed to a direct descendant, such as a...
Challenging your Council Tax band

Challenging your Council Tax band

If your property has changed or seems mis-banded, you may have the right to request a Council Tax review. Properties in England and Wales are assigned Council Tax bands based on their value as of 1 April 1991 (England) or 1 April 2003 (Wales). If you believe your...
Bank Rate trimmed to 4%

Bank Rate trimmed to 4%

The Bank of England has knocked the main interest rate down to 4% today, cutting it by a quarter‑point from 4.25%. It’s the fifth cut in a year and brings the rate to its lowest since March 2023. The decision was a close call: the nine‑member Monetary Policy...
HMRC to increase anti-money laundering fees

HMRC to increase anti-money laundering fees

Fit and proper test fee to jump from £150 to £700 under HMRC’s proposed AML supervision changes Many businesses are monitored by the Financial Conduct Authority (FCA) or certain professional bodies for Anti-Money Laundering (AML) purposes. However,...