How to make exempt gifts for IHT purposes: Practical pointers when considering a valuable inheritance tax exemption

How to make exempt gifts for IHT purposes: Practical pointers when considering a valuable inheritance tax exemption

Most forms of tax relief or exemption have an upper limit, such as the income tax personal allowance, or the annual exemption for capital gains tax purposes. However, there is an inheritance tax (IHT) exemption with no upper monetary limit. The exemption is only limited broadly by the individual’s personal resources, and the amount of. Read more

Why the tax practitioner needs to get to grips with changing accounting standards sooner rather than later

Why the tax practitioner needs to get to grips with changing accounting standards sooner rather than later

It is tempting to think that the tax practitioner comes to FRS 102 later than his or her accounting and audit colleagues. They prepare the accounts – maybe with a rough and ready tax provision – and then the tax computation is honed and finalised. In my view, the tax practitioner needs to understand the. Read more

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