Within a family scenario, there are many situations in which one family member may make a gift to other family members. However, the way in which gifts are funded and made can make a significant difference to the way in which they are treated for inheritance tax purposes.
Today’s technology has made international business more accessible than ever. Armed with little more than a laptop and an internet connection, any small business or freelancer can easily work for a raft of international clients.
You wouldn’t know it from the weather, but summer is on its way - and up and down the country, businesses are busy preparing for their summer staff parties.
But while you might have the venue sorted and the catering covered, are you on the ball when it comes to the tax implications of your event?
With so much continued uncertainty around Brexit and what it might mean for international trade, it’s great to be able to highlight some positive news for UK businesses who buy and sell abroad!
If you’re a frequenter of coffee shops (and let’s face it, who isn’t these days?), you’ll be well used to the barrage of questions that follows almost every order.
“Black or white coffee? Would you like the sandwich heated? Eat in or take away?”
Where income is mainly derived from savings, it is possible to enjoy tax-free savings income of up to £18,500 tax-free in 2019/20 in addition to that held in tax-free wrappers, such as individual savings accounts (ISAs).