death duties Archives - Philip J Milton & Company Plc

‘Low key’ Spring Statement contained few surprises

Philip J Milton & Company Plc — Wed, 02 Apr 2025 09:00:00 +0000

The Chancellor’s Spring Statement did not contain a great deal we hadn’t already heard and no immediate prospects for economic growth. In a relatively low key affair, Rachel Reeves set out her latest update on the economy and restated plans to cut the welfare budget as well as making cuts to Government departments, as we […]

The post ‘Low key’ Spring Statement contained few surprises appeared first on Philip J Milton & Company Plc.

Days left to make ISA and Pension contributions before Financial Year ends

Philip J Milton & Company Plc — Tue, 01 Apr 2025 15:41:14 +0000

So the dearly departed are coming to the rescue of the Chancellor, as Inheritance Tax receipts for the period from April 2024 to February 2025 topped £7.6billion and that is before the swingeing increases in the Autumn Statement where these death duties will affect pensions and businesses too. The figure is projected to grow another […]

The post Days left to make ISA and Pension contributions before Financial Year ends appeared first on Philip J Milton & Company Plc.

Equity release – is it in your best interest?

Philip J Milton & Company Plc — Wed, 05 Feb 2025 10:00:00 +0000

Equity release – or remortgaging your home – saw a surge in popularity at the end of 2024, latest figures have revealed. The Equity Release Council says there was an increase in lending of £622million in the last quarter of the year, up 16% on the year before, although the figure for the total year […]

The post Equity release – is it in your best interest? appeared first on Philip J Milton & Company Plc.

Planning for IHT on pensions and should you be worried?

Philip J Milton & Company Plc — Wed, 22 Jan 2025 10:00:00 +0000

A great many anxious enquiries from clients have been generated by the Budget announcement that pensions would become subject to Inheritance Tax from 2027. Join us for a brief toe-dip into the murky IHT waters and consider what options you may have – but please take advice first! Independent Financial Advisers (IFAs) have been fielding […]

The post Planning for IHT on pensions and should you be worried? appeared first on Philip J Milton & Company Plc.

Hold fire on pensions Inheritance Tax decision for now…

Philip J Milton & Company Plc — Thu, 12 Dec 2024 14:57:14 +0000

Reforms announced in the Budget to include unused pensions in Inheritance Tax from 2027 have rightly prompted concern and fears for those planning how to pass on their estate to their family – but don’t do anything rash just yet! This is because HMRC is running a consultation on these proposals until January 22, 2025 […]

The post Hold fire on pensions Inheritance Tax decision for now… appeared first on Philip J Milton & Company Plc.

Where there’s a Will – make sure it’s done the right way

Philip J Milton & Company Plc — Wed, 17 Jul 2024 09:00:00 +0000

Disputes over the validity of Wills and quarrels over the inheritance of estates are as old as the hills and no doubt ancient civilisations had very similar problems – though their solution was probably somewhat blunter than we are used to! We’ve visited the topic before, but it was an eye opener recently to hear […]

The post Where there’s a Will – make sure it’s done the right way appeared first on Philip J Milton & Company Plc.

Inheritance Tax revenue soars – but will it affect you?

Philip J Milton & Company Plc — Wed, 01 May 2024 12:21:23 +0000

The last financial year saw a record £7.5billion collected in Inheritance Tax (IHT) – and it is predicted to hit £10bn by the end of the decade. The numbers from HM Revenue and Customs (HMRC) has shown that IHT receipts increased by £400m year-on-year, after £7.1bn was collected in 2022/23. This really should come as […]

The post Inheritance Tax revenue soars – but will it affect you? appeared first on Philip J Milton & Company Plc.