Personal Finance & Tax LAW GUIDES

Should I Take Out Buildings and Contents Insurance?

Buildings and contents insurance, also known as home or house insurance, is a cover that can be taken out to cover the cost of damages and loss within your home. As a homeowner, you are likely to prioritise home insurance by way ensuring that what's...

A Guide to Universal Credit

Universal Credit is a benefit that has been introduced by the government which aims to offer financial assistance to those who are working but on a low income or for people who are not working. Universal Credit differs from other benefits and replaces...

Laws on Identity Theft and Identity Fraud

Identify theft is a serious offence that can lead to distress, financial complications and emotional turmoil for victims. Being the subject of a fraud attack can result in complex processes to prove your...

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...

Problems paying your mortgage? Here is what you should do

Struggling to meet your mortgage repayments can be incredibly stressful and can lead to severe financial difficulties. If it is unlikely that you can rectify your financial problems after falling behind...

What Are Tax Deductible Expenses for Workers?

It may be possible to claim tax relief on some expenses that you incur through work. Such expenses must be incurred ‘wholly, exclusively and necessarily' through your job role and this applies in...

What is Negative Equity and What Can You Do About It?

Negative equity is the term used to describe a property that is worth less than the mortgage loan that is secured on it. Negative equity is normally caused by falling property values, when a person buys...

Equity Release - Options for Releasing Equity from Your Home

Equity release allows people to access the equity or financial sums that are tied up in their homes. This option is only available to people who are over the age of 55 and is often used to support people...

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...

Responsibility for Debts After Divorce

Debts can be a stressful consideration at any time, but assessing what should happen to the repayment of them after a divorce can be even more complex. Just as with the decisions that need to be made...

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...

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...

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....

Dealing With Pensions Following Divorce

A pension serves to offer individuals security in their retirement and is often one of the largest capital assets in a marriage or civil partnership. This makes it one of the most valuable considerations...

Reducing Inheritance Tax Liability with Gifts

At present, if a person's estate is valued in excess of £325,000, they will be obliged to pay inheritance tax on any amount above this value. The current rate of inheritance tax is 40% and this...

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...

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...

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...

Can I Make a Claim Against a Payday Lender?

Payday loans have been in the headlines for several years, with warnings over the excessive interest rates and fees that these lenders charge to those who need to desperately access money. Usually taken out by those who have poor or no credit rating,...

Benefit Fraud Offences and Penalties

The following article explains what benefit fraud is, including the type of actions that constitute fraud, how cases will be investigated and the potential penalties for those found guilty of committing...

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...