Rachel Reeves confirms tax increases in October budget
Chancellor Rachel Reeves has announced that the upcoming October 30th budget will include tax increases, while ruling out hikes to income tax, national insurance, and VAT, as reported by The Times. Reeves, speaking on The News Agents podcast, stated the necessity of raising taxes, citing a need to address public finance gaps. A close source […]
Over 55s homeowners worry about retirement despite property wealth
Over-55s homeowners are sitting on an average £311,000 in equity with one in four owning £400,000 or more but they are becoming increasingly worried about their retirement income, new research from Key Later Life Finance shows. Its nationwide study found nearly two out of three (64%) of over-55s owns their home outright with a further […]
Toy tycoon’s sons in high court battle over DNA inheritance dispute
The sons of Stuart Marcus, a successful toy-making entrepreneur, are embroiled in a legal battle over inheritance following claims that DNA tests have revealed one of them is not Marcus’s biological child, as reported by The Telegraph. Stuart Marcus, who began his career selling wooden dollhouse kits in a small East London toy shop, expanded […]
Nearly two-thirds of older generation use online platforms to demystify later life finances
Almost two thirds of (62%) UK homeowners aged 55 and over would look to price comparison websites (PCWs) to compare different financial products, according to new research from the Equity Release Council (the Council) and Equity Release Supermarket on the role of technology in supporting the customer journey. The Council’s bi-annual Home Advantage study of […]
Deaths involving IHT rise to 4.39% in 2021-2022
In the tax year 2021 to 2022, 4.39% of UK deaths resulted in an IHT charge, increasing by 0.66 percentage points since the tax year 2020 to 2021, according to annual Inheritance Tax liabilities statistics from HM Revenue & Customs. IHT liabilities created in the tax year 2021 to 2022 were £5.99 billion – a […]
Upcoming courses – Today’s Training
Residential Service Charge Issues – Tuesday 3rd September (Ian Quayle) 1 hour session £55 Find out more about the course details here: https://todayslegaltraining.co.uk/webinar/residential-service-charge-issues/ The Trust Register – the need to knows in 2024 – Wednesday 4th September (Helen Forster) 1 hour session £55 Find out more about the course details here: https://todayslegaltraining.co.uk/webinar/the-trust-register-the-need-to-knows-in-2024/ Buying […]
Post UK election – Tax reforms and the non-dom regime
This week provided confirmation of Labour’s legislative agenda, with tax increases in the limelight – despite the Prime Minister and Chancellor pledging no new taxes ahead of the election. Tackling tax avoidance was a centrepiece of the Labour Party campaign with commitments to close loopholes and significantly increase taxes on a small number of high-net […]
Labour and inheritance tax: what might we see from the new Government?
The Labour manifesto includes a commitment to hold only one fiscal event each year, with significant fiscal events subject to an independent Office of Budget Responsibility (OBR) forecast. With party conferences being held in late September/early October, it would not be a surprise to see an October Budget. Labour has committed to presenting a statement […]
