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Gifts Out of Surplus Income

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…

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Chris Stedman
Senior Partner

Electric Cars - The Tax Perspective

Traditionally advice has been that it is more tax efficient for business owners to hold cars in their own names rather than that of their companies. The electric car revolution has changed all this...

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Chris Stedman
Senior Partner

Redundancy Pay - The Basics

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?”

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Chris Stedman
Senior Partner

Residential Property Gains (Again!)

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.

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Chris Stedman
Senior Partner

Gifts Out of Surplus Income

While many of us like to hold onto our money, there comes a stage when it is beneficial to give it away to protect your family from inheritance tax. The question is how much can you legitimately pass on?

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Chris Stedman
Senior Partner

Your Pension Pot and Your Family

Pensions have long been shrouded in mystery. Current rules introduced on 6 April 2015 have made them much more intelligible and attractive.

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Chris Stedman
Senior Partner

Working From Home - Employees

The Government has recognised the fact that where employees are required to work from home on a regular basis for whatever reason then some tax relief should be available.

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Chris Stedman
Senior Partner

Trivial Benefits

In general the value of any benefit provided by an employer to an employee constitutes part of the employee’s employment income and is fully taxable. In addition the employer has to pay class 1A NIC on many such benefits. It is very sad.

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Chris Stedman
Senior Partner

Tax Planning & Pensions

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.

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Chris Stedman
Senior Partner

Penalty!

Something that did not receive a mention in the Budget speech but is likely to have an impact on most of us sooner or later is the new regime for late return and late tax payment penalties.

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Chris Stedman
Senior Partner

Late Payment Penalties - Personal Tax

If you miss paying your personal tax payment, HMRC are quick to issue penalties. How much could you be charged?

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Chris Stedman
Senior Partner

Child Benefit – Urgent

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.

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Chris Stedman
Senior Partner

Lasting Powers of Attorney

It is becoming fashionable when making a Will to instruct a solicitor or agent to make a Lasting Power of Attorney (LPA) at the same time. What are they? What is their function? Do we all need one?

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Chris Stedman
Senior Partner

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.

Name of Customer
HR Advisor, Company

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!

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