Articles by David Wesley-Yates

What tax-free sum can we give when our child weds?

Friday, 10 May 2019 | Question and Answer

A parent can give away £5,000 free of IHT in consideration of marriage and may give £1,000 to any other person in consideration of marriage.

Should I tell HMRC that I sold my home in Australia?

Friday, 26 April 2019 | Question and Answer

HMRC has the power to go back up to 20 years when digging for evidence that someone has failed to notify them of a liability. It could then raise a penalty based on any tax that was due.

Can my dad help cut our future inheritance tax bill?

Friday, 12 April 2019 | Question and Answer

Since October 2007, it has been possible for spouses to pass their nil-rate band to each other for inheritance tax purposes. 

Do I have to pay tax in the UK on a pension that has been taxed in Norway?

Sunday, 16 December 2018 | Question and Answer

You must pay tax on pensions if you’re resident or were resident in the UK in any of the five previous tax years.

Will HMRC find out if I fail to declare the tax I owe?

Friday, 30 November 2018 | Question and Answer

You may have to pay CGT if you make a gain when you sell or transfer property that is not your main home. This applies to a sale or transfer of a second property to your son.

Can I give my children cash without them having to pay IHT?

Tuesday, 27 November 2018 | Question and Answer

If the value of your estate – including these gifts – are beneath the nil-rate band, there is no tax to pay.

Can I gift my wife £30,000 without owing HMRC any money?

Wednesday, 27 March 2019 | Question and Answer

One of our experts answers a reader's question

If I transfer a property to my sister without payment, will we still be liable for stamp duty?

Tuesday, 30 April 2019 | Question and Answer

If you and your sister decide that she is going to take over ownership of the property, then she will have to pay Stamp Duty Land Tax (SDLT) if the value of your half that you are giving to her is more than £125,000.

Will claiming state and final salary pensions when I’m 65 affect my money purchase annual allowance?

Wednesday, 12 September 2018 | Question and Answer

Sometimes it’s possible to keep paying into your pension even after you take money out of a pot – but you may have to pay tax on contributions of over £4,000 a year.

I’m giving my late husband’s property to my daughter. Will she pay CGT if she sells it?

Tuesday, 03 July 2018 | Question and Answer

Because you are receiving the property from the estate of your late husband, it would be free of Inheritance Tax (IHT) at the market value on the date of transfer.