What is the old age tax?
A new proposal to tackle the impact of an increasingly aging population on social care provision has been published and is already dubbed a ‘tax on old age’. Who has written this proposal? The recently [...]
April 2019
Do you pay inheritance tax on ISA savings?
Did you know that your civil partner or spouse can inherit your ISA savings without being subject to inheritance tax? How does inheritance tax work? Here are some inheritance tax basics: Nil-rate band: similar to [...]
Are you paying too much tax on your pension?
HMRC’s recent data shows that pensioners have collectively been overcharged a total of £400 in the last four years. This shocking figure is a result of how the new pension rules, announced in the 2015 [...]
What is a tax haven?
We often hear this phrase used on the news with reference to incredibly wealthy individuals. It’s easy to accept it’s meaning in context and not really consider what a tax haven is because we know [...]
Welsh Assembly’s New Income Tax Powers
As of April 6th, the Welsh Assembly’s new devolved taxation powers come into effect. This means that a designated amount of the income tax raised in Wales is directly controlled by the Welsh Assembly. The [...]
What is the ‘tampon tax’?
This alliterative, headline grabbing phrase implies that there is a special tax that applies only to tampons. In fact, it refers to the classification of sanitary products in the 5% VAT bracket. For years, women [...]
Google pays higher UK tax bill. But is it enough?
The most recent financial figures released by Google show that they are paying more tax in the UK than in the previous tax year. But is it a true representation of their British income? Google’s [...]
Minimum wage increase comes into effect
From today, the two million taxpayers that are on minimum wage will see their hourly rate go up. There are different rates for people in different age brackets. Any rise in income is good news. [...]