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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...

Inheritance Tax Will Affect One in Ten Estates

New research by the Institute for Fiscal Studies (IFS) shows that 10 percent of estates in the UK will face Inheritance Tax (IHT) by 2018. This is a substantial growth – just 2.6 percent of estates were charged IHT in the 2009-10 tax year. The trend is...

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