Social Care Reform – What does it mean for you? On the 7th of September, Boris Johnson released the Government’s Social Care Reform Plan. The plan will use national insurance contributions to fund social care and the NHS (for the next 3 years). So what is changing for social care funding? The highlights (from October…
Why do you need a will Making a will is important.. Erm yes? We all know that we should have one in place if we want to make sure our estate goes to our nearest and dearest… Right? So how come 30 million adults in England and Wales don’t have a will? That’s 54% of…
Will Inheritance Tax affect you? Our plan is to attempt to explain what Inheritance Tax (IHT) is and how to work out what you need to pay and when. We have prepared a very simplistic overview of what is essentially a complex area. So, what is it? IHT is essentially the tax on the estate of someone…
Managing Your Potential Inheritance Tax Bill This post was first published on September 2016 and was updated in July 2018 and again in June 2019. The Inland Revenue collected £5.2 Billion inheritance tax in the 2017-18 tax year. The highest on record in a single tax year. Could your beneficiaries be liable to add…