What is Income Tax in the UK? Income tax is the mode by which the personal income of an individual is taxed in the UK. In order to make personal income taxable, a part or proportion of it is taken from the same purpose out of the earnings of an individual in a financial year. […]
Several months of negotiations between the European Union and the UK have finally to a trade deal. To know the effect of the same on the UK business or your business for that matter, continue to read. We are well-accustomed to the 11 month transition period that happened after the UK left the European Union […]
Find out a lost Child Trust Fund, even if you don’t know the provider. Amongst all the Child Trust Funds in the UK, more than seven lacs of them remain non-operational for the most part because of different reasons such as the inactivity of the people, or the wrong contact information provided. These millions of […]
Managing the estate or property of someone after their death can be troublesome especially when you are not familiar with the ways to mitigate tax effects. Amongst the various things to deal with after the death of a loved one is the inheritance tax. Inheritance tax is the tax imposed on the estate of a […]
Brexit’s Effect On Trusts
Despite the fact that Brexit has not made any changes to private client work in any way, it is supposed to have a knock-on effect on Brexit. It is focused on the limelight on how English trusts work for clients. New money laundering directives are supposed to contract rules around the transparency of trust ownership by putting more of them on a central register. Any trust whether or not it has consequences needs to report to the Revenue and there must be a register that is available to interested parties. Before Brexit, all express trusts administered in the United Kingdom would have to be registered with HMRC, even those that have no current tax consequences.