A few months after my father passed, my mother gifted me £20k. A few months later, my mother decided to carry out a deed of variation on my father's will so his savings of £12k would be left directly to me. For the purposes of the IHT nil rate band/HMRC, would ... Continue Reading
Job requirement: An ability to run an organisation that does not wish to speak with its customers...Tick Continue Reading
Can a husband gift his wife all or part of a non-reporting fund for her to sell in order for the sale to fall into a lower income tax bracket since she has no other income (unlike him)? Would the wife have to file a separate tax return or is there a way to jointly ... Continue Reading
Hi I am currently employed PAYE, but am looking to semi-retire at the end of April of this year. Thereafter, I am aiming to do some occasional consultancy for my current firm, who may opt to pay me a small retainer and a daily rate, plus I will be doing a small ... Continue Reading
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
