The beginning of a new tax year invariably brings an update to the regulations around certain tax issues. This year, both businesses and individuals can expect to be affected by the changes that came in on 6 April 2018. Here is a brief summary of what’s happened and a few pointers on ensuring you make the most of your tax benefits.
Residential Nil Rate Band
The key change to affect individuals is the increase in the Residential Nil Rate Band (RNRB), which impacts inheritance tax planning. An extra allowance was introduced in 2017 to enable homeowners to use a tax-free sum against their main property. Subject to conditions – such as who the property is left to – individuals can use a further £125,000 against their main home, meaning that married couples could now pass on a total of £900,000 under the nil rate band.
Offshore trusts
Those with …
The finance major provides students with a thorough understanding of the theoretical monetary rules and the sensible implementation of these principles in business. Students find out how financial markets operate and the right way to make efficient investment and monetary choices for corporations and individuals. The main is designed to develop college students’ analytical abilities and downside-fixing skills. Financial markets are the key conduits via which investments are channeled in the international market, and understanding these markets and easy methods to make investment choices are essential for achievement in enterprise.