The confusing array of inheritance tax rules on giveaways to loved ones should be swept away and replaced with a single ‘personal gift allowance’, say Government officials. The ‘seven-year’ rule for large gifts, which means that if you survive the money gradually becomes free of inheritance tax, should be axed in favour of a set … Read more
Self-assessment tax filers looking to use their spouse’s allowance report surprise bills, but HMRC tells them to file their return anyway The marriage allowance allows a transfer of up to £1,250 to your spouse This is done to reduce the tax you pay due to a higher personal allowance One reader told This is Money the … Read more
Doing it for the kids! Budget hands young savers a boost as Junior Isa allowances more than double to £9,000 from April Junior Isas were introduced in 2012 and replaced Child Trust Funds Both currently allow those aged under 18 to save up to £4,368 tax-free a year This will be upped by 106% in … Read more
Vegan options are often perceived as a healthier choice on restaurant menus, but a damning report has found that many are crammed with more salt than meat dishes. An investigation by researchers at Action on Salt, based at Queen Mary University of London and Bart’s Hospital, looked at the content of more than 290 plant-based … Read more