Many people think of Estate Planning as an exercise to so arrange their affairs that the Government can take as little as possible from an estate, leaving as much as possible to their family and chosen beneficiaries. Important as this is, there are other aspects of the matter to be considered and provided for.Read Article
Making Tax Digital (MTD) for income tax self-assessment will be on us very shortly. The official start date is 6 April 2024 - approximately 16 months away - but a lot of key decisions need to be made well before that date. Ideally landlords should accept the discipline of quarterly reporting in the year commencing 6 April 2023 so as to be quite ready for the real thing a year on.Read Article
It is not very often that an elderly lady manages to put in place an arrangement the effect of which is to clarify and even extend an inheritance tax relief. This is precisely what Mrs Bennett did - with the help of her solicitor, senior counsel and Mr Justice Lightman - although sadly she did not live to see her name above the tax case Bennett & Others v IRC (1995). This is what happened…Read Article
Once in a while there’s a telephone call from someone wanting some cheap advice. “I’ve just been made redundant,” is how it starts. “I’m getting a termination payment,” is how it continues. And then the inevitable question … “It’s all tax-free if it’s under £30,000, isn’t it?”Read Article
Oswald was a delightful uncle to have. He had plenty of ideas and plenty of money. He was just the sort of person to turn to in the event of a family problem… Jane, one of Oswald’s nieces, was a young widow and was attempting to run a small business. Jane desperately needed some cash, so Oswald came up with a proposal. He would acquire a half interest in Jane’s house for £200,000 cash, which was a fair deal. If the business picked up, as it was expected to do, then Jane could buy back Oswald’s half share whenever she was ready. The deal was done, and all legal ends were tied up – Oswald was always very particular with this sort of thing.Read Article
In recent years pensions have become a lot more attractive and with care can be an effective planning tool. It’s a specialist subject and the rules are constantly changing. But successive governments have been keen to encourage pension provision in the knowledge that the state scheme is proving increasingly inadequate.Read Article
Most of us have heard about the High-Income Child Benefit tax charge. If you or your spouse has income over £60,000 all the child benefit is clawed back as a tax charge. If income is between £50,000 and £60,000 a proportion is clawed back.Read Article
We have enjoyed a good working relationship with C&H Stedman over many years and have proved them to be 100% reliable and professional in producing accurate and timely Monthly Management Accounts and Year end Financial Reports.I have no hesitation in recommending them as ‘trusted advisors’ both in relation to financial planning and tax efficiencies, having many years’ experience and a breadth of knowledge in these fields.
C&H Stedman Accountants have provided professional advice for us since 2003. They produce regular Annual and Management accounts, with clear reports charting analysis, ratios and trends, and they supervise all our partnership’s tax affairs.Their service is always competent, prompt and friendly, and they readily give guidance on accounting issues which arise from time to time. A good support to our business!