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IHT Revenues Bolstered by Tax Freeze

IHT revenues have recovered this year, hitting £3.42 billion in 2013-14, the highest amount since 2007-8. The way IHT was calculated changed in 2007, following the introduction of the Transferable Nil Rate Band – which was slanted as a tax cut. A combination of rising house prices,...

HMRC taking debts from bank accounts

There has been much press coverage of a recent HMRC consultation. This is proposing new powers that would allow them to recover certain tax debts directly from individual’s bank accounts. Whilst this is a proposal at the current time, the ramifications of such a new power would...

The Efficient Frontier

Occasionally, The Fry Group’s Chairman, Stephen Tucker, lends his thoughts on a particular area of financial planning. Below is his analysis of one such area: Let me start with an apology. Not everyone reading this will find it as interesting as others but it is a fundamental...

Tax Charges for Residential Properties

Since April 2013 an annual tax charge has applied to UK residential property held by ‘non-natural persons’ – notably a non-resident company. There has been little comment about the fact that the annual charge would be index linked (whilst the tax bands would not) and so, in...