For demonstrating gifts out of surplus income, I believe it's expected that household expenses will be split equally between husband and wife. That's easy for major items such as energy, Council Tax and car insurance. But we pay randomly for food shopping, meals ... Continue Reading
I am the trustee of a discretionary Trust which was made November 2001. The capital of the trust consists of a single small cottage which has been let to different long term tenants over the years. Trust returns have been made every year by the trustees to ... Continue Reading
My wife just had a call relating to a MTA claim, ( request made but £1260 extra akkiwance not applied to my calc) Wife £7000 income, £7000 interest ME, £98000 income , but basic rate limit increased by 48300. to £86000 due to SIPP contribution Hence with ... Continue Reading
My wife and I make monthly payments to our three grandchildren by way of bare trusts. These payments are made entirely from surplus income in order to benefit from IHT exemption. To assist our executors, we keep detailed records of all income and expenditure ... Continue Reading
When our parents transferred their property to my siblings and me, retaining a lifetime right to reside (an interest in possession), what are the Capital Gains Tax implications now that this right has ended with my father’s death in February 2026 — specifically ... Continue Reading
In 2001 my father transferred a property to my sister by way of gift under love and affection. The transfer deed formally documented a right to reside in favour of my father. My sister was also obligated to meet my father’s living and funeral expenses as part ... Continue Reading
May I please have some advise. I am domiciled and resident in Malta. I have a daughter also domiciled in Malta but resident in the Uk. I own properties beside my residence in Malta which I would like to donate to my daughter and set up an usufruct so I can ... Continue Reading
Hello, my tax year on my SA 103 form has for many years showed 1 April - 31 March instead of 6 April - 5 April as is at the top of the form. So that is the accounting period I use for my income and expense reporting. Does this matter or shall I continue have my ... Continue Reading
