| Death rate % | Lifetime rate % | Chargeable transfers 2011/12 and 2010/11 £’000 |
|---|---|---|
| Nil | Nil | 0 - 325* |
| 40 | 20 | Over 325* |
*Potentially increased for surviving spouses or civil partners who die on or after 9 October 2007.
| Reliefs | ||||
|---|---|---|---|---|
| Annual exemption | £3,000 | Marriage | - parent | £5,000 |
| Small gifts | £250 | - grandparent | £2,500 | |
| - bride/groom | £2,500 | |||
| - other | £1,000 | |||
| Reduced charge on gifts within seven years of death | |||||
|---|---|---|---|---|---|
| Years before death | 0-3 | 3-4 | 4-5 | 5-6 | 6-7 |
| % of death charge | 100 | 80 | 60 | 40 | 20 |
Up to £15 million will be clawed back from academy schools before the end of the current academic year due to government budgeting errors, according to our data.
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A quarter of all taxpayers may be paying the wrong amount of tax due to incorrect PAYE codes according to our analysis.
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The cost of listing on AIM has risen at its fastest rate in more than five years according to our findings.
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A sudden surge in M&A activity on AIM is being driven by private equity backed deals to take companies private, our research reveals.
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From 6 April 2012 HMRC will be able to ask employers to pay a financial security where it thinks there is serious risk that the business won’t pay over their PAYE tax deductions or National Insurance contributions (NICs) on time.
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Our Brighton office has appointed a new partner, Charles Homan, to strengthen their growing tax team.
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On average women live longer than men and as a result pay lower life assurance premiums. A ruling by the European Court of Justice has outlawed the current practise of offering different life insurance rates for men and women.
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WKH Chartered Accountants, a three-office firm across Hertfordshire, Cambridgeshire and Bedfordshire, joins the UHY Hacker Young Group today (April 2 2012).
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Aberdeen has overtaken London to become the only major city in the UK that managed to grow its economy during the recession, reveals our research.
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Plans to cap income tax reliefs to £50,000 or 25% of income from April 2013 announced in today’s Budget cast a huge shadow over charitable giving in the UK.
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The value of loans to businesses in the UK has slumped by 13% since the collapse of Lehman Brothers, the second fastest fall among the G8, according to our findings.
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Our international network, UHY, welcomes new member firm in Tunisia, CNBA.
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Hot on the heels of an announcement from HMRC that the closure date for the Liechtenstein Disclosure Facility (LDF) has been extended to 5 April 2016 has come speculation that the local banks are pushing for much higher transfers of funds into Liechtenstein and a minimum period for which any account must be kept open.
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The total amount paid out by HM Revenue & Customs (HMRC) in corporation tax refunds reached £9billion in the year to March 31 2010, up from £8.7billion in the previous year, says our research.
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Our London office has appointed a new partner, Odhran Dodd to the Corporate Finance team.
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A last minute rush to take advantage of the now closed Corporate Venturing Scheme resulted in a 65% jump in investment in small companies, to £28m, in its final year.
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Taxpayers who do not owe tax, or are even due a tax rebate from HM Revenue & Customs (HMRC), will be fined for the first time this year if they do not complete tax returns by January 31 2012.
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Many leave the provision of life assurance and pensions to their employers, although unfortunately they do not consider whether, in the event of a claim, the benefits provided would be sufficient to allow a reasonably comfortable lifestyle to be maintained.
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UHY is a world leader in audit, accounting, tax and business advisory services. Download the UHY Global Directory for more information about our global offices and resources.
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This update brings you the most recent developments for academy schools.
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Our quarterly newsletter for SMEs gives a run-down of the latest tax, payroll, HR and general business news for small and medium-sized businesses.
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This issue features our guide to planning for international success.
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This month’s VATflash provides a warning for late filing penalties and discusses issues surrounding the recovery of your input VAT and any VAT you may have overpaid.
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With March arrived the 2012 Budget and subsequent changes to our VAT system. This VATflash sheds light upon those recent announcements and explores a number of important VAT issues outside of the Budget that could have major impact on you and your business.
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Our summary of George Osborne's 2012 Budget announcement is now available to download.
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Download our handy Tax Card for a run down of the key rates for 2012/13.
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This update brings you the most recent developments for Academy schools.
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HMRC regularly publish approved ‘fuel only’ rates which have, again, changed.
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Our regular summary of all the latest tax issues that will affect you and your business. In this issue we concentrate on tax planning: for the Budget; for your year end; for your business; for UK or offshore trusts; for individuals and families; for foreign domiciliaries; and for estate and inheritance tax.
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Download our financial update for a series of articles including how to make the most of non-mainstream planning, utilising your annual Individual Savings Account (ISA) allowance and information on the Recent Retail Distribution review (RDR).
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This month there are several VAT issues which are polar opposites in nature, ranging from administrative matters to critically important opinions under European law.
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Our specialists have been active in the natural resources industry for many years and have experience advising clients across the spectrum of the sector.
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Our Capital Markets specialists have significant experience advising and supporting fully listed, AIM and PLUS clients. This document provides a list of stock market clients as at February 2012.
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Download our financial update a series of articles covering family protection and urgent aspects of pension planning.
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Our quarterly newsletter for SMEs gives a run-down of the latest tax, payroll, HR and general business news for small and medium-sized businesses.
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What normally proves to be a quiet month for VAT issues, this January has been anything but.
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