Jennie Brown

Who Our Tax Planning Tips Are For (and Who They’re Not For) Are you a small owner-managed business in the UK looking to optimise your tax planning? Our latest blog post is tailored specifically for YOU! **Who This Is For:** ✅ Small business owners managing their own finances ✅ Entrepreneurs operating from home ✅ Business owners seeking to maximise tax deductions and reduce liabilities ✅ Those who want to better understand mileage claims, capital allowances, and more **Who This Is NOT For:** ❌ Large corporations with dedicated finance departments ❌ Businesses with complex international tax structures ❌ Owners who do not manage their day-to-day finances Our comprehensive blog covers everything from home office deductions to capital allowances, ensuring you’re making the most of your tax benefits. Don’t miss out on valuable tips to keep more of your hard-earned money! 👉 Read more:https://lnkd.in/ekWCaCF6 #TaxPlanning #SmallBusiness #MicroBusiness #UKBusiness #FinancialTips"

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Navigate inheritance tax complexities like a pro with our effective strategies. Unlock the secrets to smart inheritance tax planning with our professional strategies. Learn more at https://lnkd.in/dPSgmXr6 #inheritancetax #inheritancetaxplanning

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New article alert 🔔 Non-Dom Reforms: Changes to Inheritance Tax 📆 The latest Budget introduces significant changes that will reshape inheritance tax (IHT) rules for non-doms starting April 6, 2025. In Part 2 of our series, we break down the details and implications of these changes for individuals and trusts. Key highlights include: A new residency-based test will apply to determine the scope of IHT on most non-UK assets, with new rules being implemented for lifetime transfers, spouse exemptions and gifts with reservation of benefit, amongst others. The scope of IHT on offshore settlements will now depend on the residence status of the settlor and will only be permanently fixed once the settlor has died. The new rules will provide certainty for UK domiciled individuals who have been living outside of the UK long term but could also bring some unexpected tax charges for any trusts which they have created in the past. These changes are complex and far-reaching, affecting both non-domiciled individuals and UK domiciled individuals living abroad. Transitional arrangements offer some exceptions to the rules but the clock is ticking to take advice before the changes are implemented. Check out my article for the full details 👇 https://lnkd.in/eEjrTWJ9 #InheritanceTax #Budget2024 #NonDomChanges

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AUTUMN BUDGET ’24: APR & BPR REFORMS 💼   Big changes announced in today’s Budget to two valuable Inheritance Tax reliefs, Agricultural Property Relief (APR) and Business Property Relief (BPR).   Currently uncapped, from April 2026, the first £1m of combined qualifying assets will obtain 100% relief under APR and BPR. For assets over £1m, the relief will be 50%, giving an effective rate of 20%.   For AIM shares, the relief will be 50%, giving an effective rate of 20%.   Transitional provisions will apply the capped reliefs to gifts made from today's date, if the transferor dies post 6 April 2026.   We’ll be releasing our full Budget breakdown soon. So, keep ‘em peeled. https://lnkd.in/ePZrjsW7 #AutumnBudget2024 #BudgetUpdates

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Make tax work for you❗️ Find out more 👉 https://lnkd.in/eHC_nhci If you're a business owner, you need to know how to make your business more tax-efficient.💰 That includes knowing what you can claim as an expense and when you should go incorporate to make use of the tax benefits.👍 We can help you do just that. Get in touch today to speak to our tax experts.😊 Morecambe 👉 01524 566190 Leyland 👉 01772 984 985 - - - #VerveAccountancy #Leyland #Morecambe #TaxTips #BusinessOwners #BusinessSupport

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There's nothing more rewarding than helping clients feel empowered and ready to achieve their goals. Whether it’s business guidance, accounting support, or just that extra boost of confidence, we're here to support you every step of the way! 👉 Ready to grow with confidence? Visit mdh.me.uk or drop us a message at [email protected] #ClientFeedback #BusinessSupport #MDH #SuccessJourney

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The new UK Budget is set to be announced on 30th October, with potential changes in taxation, business rates, and incentives that could impact small-medium businesses. It will be important for your business to be prepared for any financial pain points that may arise. Palmers Accounting is here to help you navigate these updates and ensure your business thrives. Contact us to discuss how we can support your business: 🌐 https://bit.ly/4dS3hLU 📞 01296 662322 #UKBudget #BusinessSupport #PalmersAccounting

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What’s the IHT Threshold, and How Can You Plan Around It? 💡 Did you know that estates over a certain value are subject to 40% Inheritance Tax? Proper planning can help you: ✔️ Use your tax-free gift allowance ✔️ Make the most of tax-efficient investments ✔️ Consider life insurance policies to cover the tax bill What strategies have you thought about for reducing IHT? Let’s discuss ways to keep your estate tax-efficient. 👇 #IHTThreshold #InheritanceTax #LawrenceGrant #TaxPlanning #FinancialSecurity

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Discussions I tend to have with clients after a Budget can sometimes be negative ones, which is totally understandable. However, one meeting I've recently had really helped the business owner to look at more than just the Budget but also about longer terms ambitions of what they really want to achieve with their businesses. From this, we're now looking at a number of parts of the businesses, which will help them grow ... in spite of the Budget changes. Really makes you think about the type of conversations which need to be had after Budget changes. How many of those conversations have you had? #accountant

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Hopefully you saw part 1 🤔🤔 Well here is part 2 👍 Non-Dom Reforms: Changes to Inheritance Tax 📆   The latest Budget introduces significant changes that will reshape inheritance tax (IHT) rules for non-doms starting April 6, 2025. In Part 2 of our series, we break down the details and implications of these changes for individuals and trusts.   Key highlights include:   A new residency-based test will apply to determine the scope of IHT on most non-UK assets, with new rules being implemented for lifetime transfers, spouse exemptions and gifts with reservation of benefit, amongst others.   The scope of IHT on offshore settlements will now depend on the residence status of the settlor and will only be permanently fixed once the settlor has died.   The new rules will provide certainty for UK domiciled individuals who have been living outside of the UK long term but could also bring some unexpected tax charges for any trusts which they have created in the past.   These changes are complex and far-reaching, affecting both non-domiciled individuals and UK domiciled individuals living abroad. Transitional arrangements offer some exceptions to the rules but the clock is ticking to take advice before the changes are implemented.   Check out Sarah's article for the full details 👇   https://lnkd.in/eVya-AZx   #InheritanceTax #Budget2024 #NonDomChanges 

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📢Our Next Tax Club Event is TOMORROW: Tax When Buying a Company or Trade On 13th November at 10am, we explore the many questions that arise when purchasing a business. This online session is completely FREE, and everyone is welcome! We’ll cover a range of key topics, essential details, and potential challenges to help you feel confident in answering these and other questions from your clients. ❓Should you buy the shares, or the trade and assets? ❓What happens to losses? ❓What about VAT? We cover these topics and more in this session on tax considerations when buying a company or trade. - - - - - - - - - - - - - - Last year, I set out to simplify taxes and share my knowledge, which led to the creation of the Monthly Tax Club. There has been such a great response to these sessions! If you have burning questions, I’ll address them during the session. See the registration link in the comments below ⬇️ #BusinessTaxPlanning #TaxAdvice #BusinessAcquisition

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How Our Client Saved £186k from Inheritance Tax: Complimentary Review: Following our complimentary second review of their tax situation, the client engaged our services. Property Portfolio Growth: The client aimed to expand their property portfolio for long-term wealth preservation and legacy planning. Identifying Tax Implications: We identified the potential inheritance tax implications, particularly given the appreciating value of the properties. Mitigating Strategies: Through strategic restructuring of corporate entities and meticulous tax planning, we devised effective mitigation strategies. Reduced Inheritance Tax Liability: Our comprehensive approach resulted in a substantial reduction of the client's potential future inheritance tax liability. Total Savings: In total, our client saved an impressive £186k from their inheritance tax obligations. By aligning our expertise with the client's long-term objectives, we not only safeguarded their wealth but also facilitated their legacy aspirations DM me "Second Opinion" for a FREE Second Opinion Call

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