Will trust is that foundation that clearly specifies how your assets and properties listed under it should be dealt with after you leave this world. Not creating a will trust means that the authority for deciding the manner of distribution of your assets is given to the law and it may not exactly be what…

Impacts of Brexit on Trusts and Tax Policies Three years after haggling in the British Parliament, upheavals at the top of the government, and blaming Brussels to delay its exit, Britain concludes the chapter on approximately half a century of close ties with Europe at 11 p.m. Greenwich Mean Time, Jan. 31, 2020.  While the…

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…

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…

It is crucial to register for VAT with HMRC if your business has a VAT taxable turnover exceeding the £85,000 threshold. Seldom the VAT can be registered before or when you are about to reach the threshold amount, this type of registration is termed as voluntary VAT registration. The method of VAT registration is quite simple…

Income tax is a tax you pay on income after it exceeds a certain amount set by the government. However, you are not required to pay it on all types of income as there are certain amounts that are exempted or there are various reliefs and allowances that you can claim on such incomes. Basically,…

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…

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….

On the day of Dec. 31, 2020, the conversion period for the United Kingdom (U.K.) to withdraw from the European Union (EU) and the European Atomic Energy Community officially known as “Brexit,” was terminated. European Union (EU) is a political and economic union consisting of 27 members of states that are located primarily in Europe….

Pros and Cons of registered company in the UK or EU after 1 Feb 2021 After Brexit happened on 31 December 2020 many British entrepreneurs are wondering if there will be any value to be had from running a UK company. The pacifying factor regarding forming a company in Britain is that your contracts square…