News and events
News
Update regarding the registration of trusts- does this wide ranging change affect you?
The summer months are usually slightly quieter for the Agriculture team due to our clients being busy with the harvest, but this year we have had more to keep us busy as a result of the requirement that most UK trusts now need to be registered with H M Revenue & Customs (HMRC).
Farming in a volatile market
Uncertain commodity prices and fluctuating input costs are a recurring theme for our farming clients.
How can the Taxman oil your machinery purchase
Purchasing machinery is a huge financial commitment and when timed right can be extremely tax efficient. In years where there has been a good harvest, re-investing some of that profit into new plant and machinery before the end of the year is one of the best tools to reduce your tax liability.
Annual returns for ERS Share Scheme due by 6 July 2022
Annual returns for ERS share schemes for the tax year ending 5 April 2021 need to be filed with HMRC by 6 July 2021.
57 is the new 55!
From 6 April 2028, the earliest age you will be able to draw your pension will be 57. Unfortunately, there is no phasing into this as there has been with previous state pension age increases.
How much do I need to save to retire
Questions to help you live your best life in later life. The question, ‘have I saved enough to retire? is a difficult one. It requires a lot of information about you, your family, your income needs in retirement, and an understanding of the various financial vehicles available for saving and investing before it can be answered definitively.
Improving your financial health
Staying on track to achieving specific financial goals
All of your financial decisions and activities have an effect on your financial health. To help improve your financial health during this period of rising inflation and interest rates, we look at three areas that could help keep you on track to achieving your specific financial goals.
Getting ready to retire?
Have you ever wondered what you need to consider as you approach retirement? Whatever your concept of what is a good pension pot, one certainty is that relying on the State Pension alone will not give you a good enough pension to live on comfortably through your retirement.
Pension Freedoms
You work, you save and then you retire. A full and happy retirement is a priority for many. But no two people are alike. A ’one-size-fits-all’ system cannot accurately account for everyone’s individual lifestyle choices, so it makes sense that the way you prepare for your future is likely to be different from others.
Positives and pitfalls of PPR
Principal Private Residence Relief (PPR) is a relief that enables homeowners to sell their homes without having to pay capital gains tax (CGT). However, in order to claim the relief, the property must be the main residence of the person selling the property.
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