Legal Financial Controllers

Alert for the self-employed: Did you know that everyday business costs could slash your tax bill? Find out what expenses might qualify to ease your finances. Read on to see if you're missing out.

Allowable expenses for the self-employed | Legal Financial Controllers If you are self-employed, claiming all of your allowable business expenses can significantly reduce your tax bill. For example, if your business turnover is £40,000 and you have £10,000 of allowable expenses, you will only pay tax on your taxable profit of £30,000. However, personal spending and ...

High earners, have you checked if the High Income Child Benefit Charge affects your family? It could impact your Child Benefit payments in ways you might not expect. Find out why staying informed matters to keep your finances on track. Read on to see if this applies to you.

Are you affected by the High Income Child Benefit Charge? | Legal Financial Controllers Families claiming Child Benefit should be aware of the High Income Child Benefit Charge (HICBC), which can apply when one member of the household has a higher income.

Pension tax relief could boost your retirement pot by up to 45%! Curious about how tapping into your allowances today might pay off tomorrow? Find out why tax benefits matter now.

Pension tax relief and allowances | Legal Financial Controllers Pensions remain one of the most tax-efficient ways to save for retirement, due to a range of tax reliefs and allowances that can help boost retirement savings.

Alert for landlords: Your rental income may be taxed on profit, not rent received, with several allowances and reliefs to consider. Find out why this matters and how to make the most of your deductions. Read on to sharpen your tax knowledge today.

Tax on rental income | Legal Financial Controllers If you receive income from renting out property, it is important to understand your tax obligations and the reliefs that may be available. Rental income is generally taxable, although landlords can deduct certain allowable expenses before calculating the amount of tax due.

Alert: If you've gifted your home but still live there rent-free, it could still count as part of your estate for Inheritance Tax. Curious how paying market rent changes the game? Read on to find out why this matters now.

IHT – gifts made with reservation of benefits | Legal Financial Controllers Most lifetime gifts are treated as potentially exempt transfers (PETs) for Inheritance Tax (IHT) purposes. In general, these gifts become fully exempt if the donor survives for seven years after making the transfer. If death occurs within seven years, the gift may become chargeable, with taper relie...

Key person insurance could affect your business taxes in surprising ways. Are your policies set up to maximise benefits? Find out why this matters now and what could change for your company's bottom line. Read on to learn more.

Key person policies and tax relief | Legal Financial Controllers Many businesses take out “key person” insurance policies to protect against the financial impact of losing an important employee, director or other individual who is central to the success of the business. These policies may provide cover for death, critical illness, sickness, accident or injury...

Fuel costs are changing for drivers and hauliers alike. Discover what the new government measures mean for your wallet and journeys ahead. Read on to see how these adjustments could ease the pinch at the pump and on the road.

Government measures to ease rising fuel costs | Legal Financial Controllers The government has announced a package of measures intended to help motorists and businesses manage rising fuel costs following disruption linked to the conflict in Iran.