Inheritance Tax When the Second Parent Dies in the UK Explained with Rules, Calculator, and How to Avoid It
Dealing with the death of a parent is incredibly difficult. When the second parent dies, families often face a new challenge: inheritance tax (IHT). You may have heard that no tax was due when the first parent passed away. This is common in the UK. However, the second death usually triggers the final tax bill […]
Tax Residency in the UK & Foreign Income (Updated for 2025/26: SRT & 4-Year FIG Regime)
Tax Residency in the UK & Foreign Income (Updated for 2025/26: SRT & 4-Year FIG Regime) When you have earnings or assets in more than one country, one of the first things you need to settle is whether you count as a UK tax resident. This single classification determines if HMRC looks only at your […]
UK Budget Inheritance Tax Updates: How to Plan and Save in 2025
Why the UK Budget Inheritance Tax Updates Matter in 2025 Planning how your family will benefit from your hard work is one of the most important decisions you will make. With the UK budget inheritance tax updates approaching 2025, it is more important than ever to understand what is changing and how you can protect […]
The Complete Guide to Tax Implications of Rent-Free Living for Family Members
Allowing family members to live in a property rent-free is a common arrangement in the UK, but it raises important questions about tax implications. In this comprehensive guide, we’ll cover inheritance tax, Gifts with Reservation of Benefit (GROB), Capital Gains Tax (CGT), and a checklist to help families in South West London and Putney manage […]
Understanding Gifts with Reservation of Benefit (GROB) and How It Affects Inheritance Tax
In the realm of inheritance tax planning in the UK, understanding “Gifts with Reservation of Benefit” (GROB) is essential, particularly for families in South West London or Putney. This rule can often be misunderstood, especially when property owners wish to gift property while retaining personal use. As a Putney inheritance tax consultant with expertise in […]
Do You Need to Charge Rent to Family to Avoid Inheritance Tax?
Allowing family members to live in a property rent-free is a common arrangement for many families in the UK, particularly in areas like South West London and Putney. However, this setup often raises questions about inheritance tax (IHT) and other tax implications. As a Putney-based inheritance tax consultant and South West London tax advisor, I […]
How to pay your inheritance tax in instalments?
Inheritance tax is supposed to be paid by the end of the sixth month of a person’s death. For instance, in case someone died on 15th January 2020, any inheritance tax due on the estate will have to be paid by 31st July 2020. Usually, the beneficiaries may need to sell some of the assets to […]
What is the Concept of Tax Residency and Foreign Income?
1. What is foreign income? Foreign income is anything from outside England, Wales, Scotland, and Northern Ireland. The Channel Islands and the Isle of Man are classified as foreign. You may need to pay UK Income Tax on your foreign income, such as: Wages if you work abroad Rental income on overseas property Income from […]