Personal Finance & Tax LAW GUIDES

Options for Reducing Your Inheritance Tax Liability

Inheritance tax (IHT) is regularly referred to as the ‘voluntary tax' because there are a number of ways in which you can reduce the amount of IHT that you are liable for without breaking the law. IHT is currently payable at a rate of 40% on the...

Self Assessment Tax Returns Explained

Self Assessment is one of the systems that HM Revenue and Customs (HMRC) use for the collection of Income Tax. Self Assessment is not necessary for everybody and only eligible people will be required to complete and file a return. The Government suggests...

What is Gift Aid and should I agree to it when donating?

Gift Aid is a scheme that allows charities to reclaim tax from donations that are made to them by eligible donors. Gift Aid enables charities to reclaim an additional 25% on basic-rate tax donations. This means that an eligible donation of £10...

What is Bankruptcy and How to Declare Yourself Bankrupt?

When debts become unmanageable, and repayment options have been exhausted, it may be necessary to file for bankruptcy which will eliminate debts and allow for financial recovery. Bankruptcy is a severe action and requires in depth thought and analysis...

Individual Voluntary Arrangements (IVAs)

The aim of this guide is to provide you with an understanding of what an Individual Voluntary Agreement (IVA) is, and the circumstances when a person may be eligible to apply for one. The guide will also highlight some of the benefits and drawbacks of...

Capital Gains Tax Explained

Capital Gains Tax is a tax that is payable on profits made above the set threshold on the sale of some assets. It is important to recognise whether you have a Capital Gains tax liability on any sale that you make in order to ensure that you are compliant...

Reclaiming PPI - Am I entitled?

PPI is a term that is unavoidable at present. Whether it be a radio advert, TV commercial, newspaper article, nuisance phone call or lunchtime chat, PPI will have likely cropped up at some point during your day. With the promise of reclaiming hundreds...

A Guide to Life Insurance - Do I need it?

Without immediate and tangible rewards, life insurance can sometimes seem like an avoidable cost, an expense that can be delayed in favour of other priorities. However, buying life insurance is not only one of the most responsible purchases you can make,...

Debt Collection Processes and Your Rights.

Although the majority of people have some form of debt, some people find that their finances become too difficult to manage when their debts outweigh their income. Whether it be an unforeseen event such as a job loss, an unavoidable expense or that you...

Guide to Inheritance Tax

Inheritance tax (IHT) is a tax on the possessions or money a person leaves behind when he or she dies. While a certain amount can be passed on tax-free, also known as the nil rate band or the tax free allowance, anything that goes over the £325,000...

Am I entitled to half of my spouse's income and possessions?

Going through a divorce can be an emotionally troubling time, particularly if the stresses of financial matters are involved. Knowing what you are entitled to as far as possessions and assets are concerned can help you and your ex move on. The following...