Inheritance tax can be a complex subject and a particularly unfavourable tax, not to say mention a pretty gloomy matter of facing our fears relating to death. Nevertheless, it requires acknowledgment and since the tax hit can be hard when it comes to Inheritance Tax (IHT) it is best practice to get IHT savvy now and make use of the allowances and peripheral options available. Read more…

Company car or phone? The P11d ‘benefit in kind’ form filing deadline is fast approaching. If you have a company car, telephone, travel card or other benefits Figurit can help prepare your P11d.

Since tax relief was reduced from £50,000 to £40,000 in 2014, HMRC have made an updated calculator available to work out the annual allowance for tax relief on pensions, taking into account any unused allowances.

With an overall target of £100 billion to recover before 2015, HMRC have stepped up their investigations into tax abuse, and doctors and dentists have found themselves as easy targets!

In an attempt to make life easier for small businesses in terms of their tax compliance, the government have allowed the concept of ‘cash accounting’ to still be available for those with a total turnover of under £81,000.

With a long delay between the month that you earn money and the month that you pay the directly related tax, it is essential to save a percentage of your income for you tax fund. Are you saving enough?

Over two thirds of UK tax is now being collected from higher rate taxpayers, despite only making up 16% of the British population. That equates to £80 billion more tax from higher rate tax payers than in 2012.

HMRC has new powers to access Credit and Debit Card transactions from UK businesses, in a bid to clamp down on tax fraud