tax

Can I pay into my pension, get government tax relief then withdraw both sums - and do it again every year?

Yes, in theory you can do this, but you should be aware that the whole area of pension recycling is one that the government is looking at carefully.

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Is tax payable on money my parents give to their children?

What and how much your parents wish to give their children is completely up to them. But whenever money is given away, it is important to plan the gift to ensure it is tax free.

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What tax will apply on the gains from my mortgage endowment plan?

It is easy to be confused about the taxation of gains on life insurance policies, as the rules are complex and vary from one type of policy to another.

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I'm retired. If I earn over £1,000 in interest, will I have to pay income tax?

Back in April 2016, the Personal Savings Allowance was introduced, which allows savers to earn tax-free interest each year on their savings.

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HMRC apologises over tax calculator error

HMRC has bowed to pressure and taken down a website page which gave taxpayers incorrect information.

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Is my wife entitled to tax relief on a pension if she doesn’t work?

The first thing to know is that anybody can pay as much money as they want into a pension.

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Avoid inheritance tax by brushing up on Isa rules

Chancellor Phillip Hammond recently described Britain’s inheritance tax system (IHT) as being "particularly complex".

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Will I need to pay inheritance tax on money my friend left me?

Everyone has a tax- free inheritance tax (IHT) allowance. This is the amount that they can pass on without tax being due. Also known as the nil-rate band, it is currently £325,000.

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What are the tax implications of giving my sister my rental income?

The tax liability on the rental income will be determined by who owns the property.

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The financial pros and cons of marriage

You may think that proposing to the one you love on Valentine’s Day is a smart financial move, as married couples benefit from several tax perks.

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