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The recent Budget saw the Chancellor announce reforms to Inheritance Tax rules which were widely expected following the Conservative Party’s General Election victory. Currently, a married couple are able to access allowances of £325,000 each, which can be doubled up and applied as a single allow
The Prime Minister David Cameron has recently suggested that he would be “happy” to look at plans for so called “granny leave” giving working grandparents the right to take up to 18 weeks of shared paren
Transfers of property between separating couples should take place in the tax year of separation to avoid capital gains tax becoming payable on such transfers. Talk to our Leeds Accountants if in doubt.