Capital gains tax (CGT) is levied when a UK resident disposes of any asset not exempted by the Inland Revenue. Similar to the income tax definition, the main way someone would be classed as a …
How does capital gains tax work?
Category: Personal Finance
Banks join the internet age
Ever wanted to move money between banks in a hurry? If you have, you will have found it a very irritating experience. Until this week, you had two choices. You could either use the 25-year-old …
Rent out your drive and bundle your bills
Ruth Jackson with six tips designed to save you money – and one ‘tempting’ offer to avoid. • Put your drive, parking space or garage to good use. If you have one that you don’t …
How to fund elderly care
The idea of retirement conjures up the prospect of more leisure time, lower tax bills and discounted travel. Yet all too often it means long-term illness and a battle to find the right care. And …
Inheritance tax: brutal but avoidable
Inheritance tax is, rather glumly, the tax on death or, more accurately, tax levied on the assets you leave behind, known collectively as your “death estate”. Since this includes your main home, many people who …
Money does make you happy
I’ve got some really depressing news. It seems that money really can make you happy. For years now those of us who aren’t quite as rich as we’d like to be have been able to …
Why pensions aren’t simple
This article is taken from Merryn Somerset Webb’s free weekly personal finance email, Money Sense. Click here to sign up now: Money Sense Pensions should be simple things: you save as much money as you …
What are national insurance contributions?
National Insurance Contributions (NICs) are hardly the most exciting subject. But all pay as you earn (PAYE) employees aged between 16 and state retirement age currently 60 for a woman and 65 for a …
Tax dodge of the week: how to get 53% tax relief
If you have members of your family helping you out in your business, you could get an incredible 53% tax relief, says Finance Confidential. Here’s how. If, say, you pay your wife a gross salary …
Save more for old age
Worried about inflation? Spare a thought for the nation’s pensioners. Their estimated rate of inflation is more like 4.1% than the Government’s number of 3% (this reflects the high percentage of their income spent on …