Last year, the most popular time to submit personal tax returns online was between 4pm and 5pm on 31 January, just hours away from the deadline. During this period, the Inland Revenue received 17 submissions every second. Not everyone made it in time, though. Excuses included: “My mother-in-law is a witch and put a curse on me” and “I’m too short to reach the postbox.”January might seem ages … [Read more...]
How to Make the Most of the New Tax Year
Unlike me, you’re probably not excited by the new tax year. However, this is a great opportunity to reassess your financial situation and then reward yourself with chocolate. Every April 6th, your tax allowances are adjusted and maximum contributions reset.In this post, I’ll explain what’s happening this year with tax allowances, pensions, and ISAs. ISAs The overall maximum ISA contribution … [Read more...]
Will inheritance tax affect me?
Inheritance tax used to be something that concerned only wealthy people. Now that even modest homes can be worth seven-figure sums, more people are starting to pay attention. Although less than 4% of estates ((Source: Office for Budget Responsibility.)) are liable for this tax, this figure is increasing. Perhaps unsurprisingly, half of all inheritance tax is paid on estates in London and the South … [Read more...]