Market Matters
Don’t let current global uncertainties affect your financial planning. It’s important not to let current global uncertainties affect your financial planning for the years ahead. People who stop their investment planning, particularly during market downturns, often miss out on opportunities to invest at lower prices. It’s important to stick to your strategy and keep moving ahead […]
Wealth preservation
Reducing Inheritance Tax means taking action now. Without professional advice and careful financial planning, HM Revenue & Customs (HMRC) can become the single largest beneficiary of your estate following your death. A survey about Inheritance Tax (IHT)[1] shows that wealthy Britons over the age of 45 are either ignoring estate planning solutions or they have […]
Financial resilience
How prepared are you for any financial shocks? Over three million working couples are classed as ‘double income, no option’ (DINOS), which means they are potentially financially vulnerable if one of the two loses their earnings. The typical household today looks very different from the traditional image of a working family made up of one […]
Reform may be coming to pension tax relief
The way pension tax relief works is reportedly under review by the Treasury. The apparent proposal is focused around a new flat rate of tax relief of 25% on pension contributions, regardless of personal income tax rates. Under this scheme, a gross pension contribution of £100 would require the same of everyone – a net […]
Late filing penalties to use points-based system
HMRC has revealed plans for a new penalty system for late tax returns, in the draft Finance Bill 2018/19. The proposed scheme is intended to reduce the number of penalty notices issued by introducing tolerance for one-off errors and would overhaul the fines charged by replacing escalating daily or tax-geared penalties. The new fixed penalties […]
Growing list of MTD software suppliers
HMRC has been busy approving software suppliers ahead of the first Making Tax Digital (MTD) deadline in April 2019. The latest additions to HMRC’s list of approved software suppliers means there are now 27 providers to choose from. Until recently there were only a few suppliers on the list, but HMRC has confirmed it is […]
More requirements to fall on private landlords
Fresh requirements will increase the complexity for landlords and people making money renting out their main residence from 2019. The Finance Bill 2018/19 draft legislation has been published ahead of November’s Budget. For those keeping an eye on property taxes, it includes the following: A new ‘shared occupancy test’ will be applied to rent-a-room from […]
Rewarding long service
The rise of portfolio careers – where workers regularly change job and sometimes spend time self-employed – makes long service an uncommon thing, but one worth rewarding. The traditional gift for long service – defined by HMRC as more than 20 years continuous employment at a company – is a watch, or clock for the […]
Ward Goodman supporting local arts festival
Ward Goodman are proud to be sponsoring The Wessex Festival 2018. The Wessex Festival 2018 will take place from Thursday 9 August to Sunday 12 August in venues in Wimborne Minster and Lytchett Minster, bringing together choral singers, instrumentalists, young musicians and professional performers. Taking the theme of ‘War and Peace’, many of the events in […]
The increasing burden of property ownership
Some changes are about to take place that will affect how UK resident and nonresident individuals who own property personally, or through a company, pay tax. Payment window for gains From April 2020, you must make a payment on account of capital gains tax (CGT) when you dispose of a residential property situated in the […]
