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01923 624111 growth@businessorchard.com
Highlighting capital gains tax and inheritance tax.
The capital gains tax annual exempt amount will be reduced from £6,000 to £3,000 from April 2024.
Comment It is estimated that around 570,000 individuals and trusts could be affected in 2024/25.
It is estimated that around 570,000 individuals and trusts could be affected in 2024/25.
The inheritance tax nil-rate bands will stay fixed at their current levels until April 2028. The nil-rate band will continue at £325,000, the residence nil-rate band will continue at £175,000 and the residence nil-rate band taper will continue to start at £2 million.
If you have a tax or business problem you need sorting out talk to us on 01923 624111.
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An estimated one million taxpayers missed the self assessment deadline for the 2024/25 tax year, according to HMRC.