Personal Finance & Tax LAW GUIDES

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...

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...

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...

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...