125,000 families take up tax-free childcare

The number of families using tax-free childcare has more than doubled since this time last year, but around 1.4 million households could be missing out on the scheme. Recent HMRC statistics show that 125,000 families used tax-free childcare in March 2019. The figure...

‘Demand for cash ISAs rises 45%’

The number of cash ISA products on the market has increased from 301 to 437 since the introduction of the personal savings allowance in 2016/17. The personal savings allowance enables basic-rate taxpayers to receive up to £1,000 a year in tax-free savings income. This...

45% of gifters unclear on inheritance tax rules

More than half of people making large gifts of money or assets are unaware of inheritance tax rules that might apply to them. Research of 2,090 people conducted on behalf of HMRC found that only 45% of those who had recently made a gift knew about the rules at the...

Stamp duty surcharge ‘could impact couples’

A planned increase to Stamp Duty Land Tax (SDLT) for non-UK residents may affect certain couples planning to buy a home, the Association of Taxation Technicians (ATT) has warned. The proposed change, outlined in a HMRC consultation, says non-UK residents buying a home...

Inheritance tax receipts to double by 2030

Taxpayers in the UK are set to pay a total of £10 billion a year in inheritance tax by 2030, according to projections from Canada Life. The most recent data from the Office for National Statistics shows that the Government collected £5.2bn in inheritance tax receipts...