Dec 7, 2018 | Personal Tax
A House of Lords committee has criticised the Government's plans to increase probate fees, saying they amount to a "stealth tax" and a "misuse of the fee-levying power". Probate fees in England and Wales are currently charged a flat rate of £155 if the application is...
Nov 30, 2018 | Personal Tax
Around four in ten people who deal with administering a loved one's estate without using an adviser spend more than two days on the task, according to a survey. The Office of Tax Simplification (OTS) found 38% of 3,000 respondents said it had taken them more than 50...
Nov 26, 2018 | Personal Tax
The Office for Tax Simplification (OTS) has urged the Government to implement a digital system for inheritance tax, following complaints that the current form-filling system is too complex. On average, there are around 570,000 deaths in the UK every year, and...
Nov 14, 2018 | Personal Tax
Most parents have made no legal provision to determine who would look after their children if they were to pass away, according to research. A study of 2,002 adults by Direct Line Life Insurance found that 65% of parents had not made any legal arrangements for this...
Nov 8, 2018 | Personal Tax
More than a quarter of people approaching retirement are unaware of the tax charge they will face if they withdraw their pension savings as cash. According to a survey of more than 2,000 over-55s by Legal & General, 27% believe they can access their pension pot...
