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Personal tax

Planning for inheritance tax

If your estate is likely to be well below the threshold for paying inheritance tax, there is no need to worry about it.

Inheritance Tax-Saving Ideas

When the first of a married couple or civil partners dies it may not be clear whether their survivor will need any of their unused tax-free allowance later on.

How inheritance tax works

When you die, everything you own – your home, possessions, investments and savings – goes into your estate.

Working out your income tax bill for 2009–10

The first stage in working out your income tax bill for 2009–10 is to find your taxable income.

Summary of main changes to Personal Tax Rules 2010-11

In 2010–11, public finances continue to be dominated by the aftermath of the global financial crisis and recession, with a pressing need to cut government borrowing.

Where investors should go to get tax advice online

The news, when it came a few months ago, wasn't unexpected but it was still something of a shock: as a nation, we pay out more in benefits than we raise in income tax.

The rules on travel and subsistence expenses when you are employed

You can claim tax relief for travel costs, for example fares, you incur making business journeys.

Capital Gains Tax on Homes

If you sell most types of investments (including property) for more than you paid for them, there may be capital gains tax to pay.

Inheritance Tax - Tax on gifts within seven years before death

Quite separately from tax on your estate, potentially exempt transfers and taxable gifts you made in the last seven years are reassessed on death and tax (or extra tax) may be due on them.

Tax-free Gifts and Potentially Exempt Transfers (PETs)

When considering inheritance tax, if you do have some resources to spare, make as full use as possible of the annual £3,000 exemption, regular gifts out of income and such like.

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