News

HMRC has highlighted that three million UK couples have already taken advantage of Marriage Allowance but a million more are still eligible for the tax break. The Marriage Allowance allows certain couples, where neither pay tax at more than the basic rate, to transfer 10% of their unused personal allowance to their spouse or civil partner, reducing their tax bill by up to £238 ...

Tax

We live in a world where families with young children often have both parents in full time employment. A decision is sometimes made for one parent stay at home and be a full time homemaker. This person may be the husband or wife. Life insurance is usually taken out to protect a family against the financial effects of the death of a breadwinner. The idea that a homemaker needs ...

IHT

The Bank of England has raised the interest rate from 0.5% to 0.75%. The quarter of a percentage point rise sets the rate at its highest level since March 2009. The rise in the interest rate will no doubt increase the interest costs of residential mortgages that have variable or tracker rates. It will be interesting to see if the rise in the rate is passed on to savers. In re ...

Tax

The Government is reminding ‘stressed out parents’ that help may be available for childcare costs during the summer holidays. According to a YouGov poll, 31% of parents feel stressed trying to arrange childcare for the school holidays. The poll, for HMRC, also found that around 30% of parents worried about balancing their job and school holiday childcare. With 54% admitting th ...

Tax