Pensions have long been a tax-efficient way to pass on wealth, but that is about to change. From April 2027, undrawn pension funds will fall within the scope of inheritance tax for the first time, with significant implications for estate planning, probate, and the...
Private Wealth
What Likely CGT Rise Means for Second Homeowners…
Speculation continues to grow that the Labour government will align capital gains tax (CGT) rates with income tax bands when Chancellor Rachel Reeves presents the Labour government’s first Budget at the end of this month. CGT is paid when you sell an asset that has...
Non-Doms to Be Scrapped from April 2025
The current tax treatment for UK resident non-domiciled individuals (non-doms) is to be abolished from 6 April 2025, the Labour government has confirmed. In a policy paper published at the end of July, the government said that it will “remove the outdated concept of...