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When someone dies, their personal representative (executor or administrator) must value their estate to determine if Inheritance Tax (IHT) is due. This involves assessing assets, debts, and handling
Private pensions can be a great way to pass on wealth, but tax implications depend on the age of the deceased and the type of pension. Some beneficiaries may receive funds tax-free, while others could
Umbrella companies offer an easy way for freelancers and contractors to get paid without running a limited company. They handle payroll and tax via PAYE, ensuring compliance and employment rights. But
Over 11.5 million people met the 31 January 2025 self-assessment deadline, but 1.1 million taxpayers missed it. If you’re one of them, expect a £100 penalty. Learn about late fees and HMRC’s payment
Not sure if your hobby is actually a taxable trade? HMRC uses ‘badges of trade’ to assess whether an activity is a business. Factors like profit motive, transaction frequency, and asset changes help
From 1 February 2025, alcohol duty on draught pints has been cut for the first time in a decade, saving drinkers 1p per pint. Small breweries also benefit from tax relief. However, duty on non-draught
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