Is your area a Capital Gains Tax hotspot – how hard will it be hit by the Budget?
With a rise in the Capital Gains Tax (CGT) rate anticipated in the October Budget, data provided by HMRC shows that residents in Wimbledon, Guildford, and Cranleigh are likely to face substantial increases in their tax bills.
How much Inheritance Tax will I owe on a family business I inherit?
What is Business Property Relief? Business Property Relief (BPR) is a tax relief that exempts heirs from paying IHT when they inherit a business. BPR was introduced to help prevent the dissolution of family companies on the death of the founder in order to raise funds to pay IHT. BPR has helped families save significant […]
Borrowers over 70 took out nearly £2bn in mortgages last year – are those mortgages being used to cut IHT bills?
Borrowers aged over 70 took out nearly £2bn in non-equity release mortgages last year, according to exclusive data obtained by TWM Solicitors*. Some older borrowers have been taking out these mortgages partly so that they can make Inheritance Tax (IHT) free transfers to their children and grandchildren. Many older borrowers make IHT-free transfers to help the […]