The History For many hundreds of years, Trusts have been used as a means of securing assets or wealth for later distribution to their respective beneficiaries. It has been claimed that Trusts originated at the time of the Crusades when Barons, Knights and the like left to fight in the Holy Land and left their
There are different types of trust that can be set up for inheritance purposes. Selecting the right one for your needs is important. Here are some examples to help you understand the different types. Simple Also known as a ‘Bare Trust’, this allows the beneficiary to gain absolute control over the assets in the Trusts
Everyone should have a will, especially if you have savings, investments or own your own business or a property. Around 56% of people who die in the UK every year do so without having made a will. Dying without a will (known as dying intestate) can mean that your wishes for your ‘estate’ aren’t fulfilled
Trusts can be confusing, and with so many variations around it’s not easy to work out which you need, or whether you need one at all. The factor that differentiates trusts is the reason for them being set up in the first place. It is important to understand the purpose of a trust before it’s
It’s a phrase most people have heard of, but do you know exactly what ‘Power of Attorney’ means? We’ve put together a handy breakdown of what it could mean for you and your family. In simple terms, Power of Attorney is a legal document in which one person (known as the ‘donor’) gives other people
Buy-to-Let Tax savings for Investors Anyone who is a Buy-to-Let investor holding property personally should consider this possible tax saving scenario. It might reduce tax on rental income as well as achieve a Capital Gains Tax (CTG) free uplift in base cost, while allowing income to be accessed free of tax. This possible solution which
If you run a business which trades for profit, you’re legally obligated to pay taxes to the government. But the taxes you pay depend on the type and size of company you operate, leading Turner Little to discuss; what taxes do small businesses have to pay? Small business taxes There are no specific ‘small business
If you’re not sure about the VAT threshold or when you need to register, then you’ve come to the right place. We’ve put together this brief guide to value added tax (VAT), the different rates, when they’re applicable and information on registration. What exactly is VAT? Value added tax is charged by businesses that are
While the beginning of April might conjure up dreams of long awaited spring sunshine and lighter evenings, it is also the start of a brand-new tax year in the UK. And that means various tax changes for everyone. The chances are that the new tax changes will make you richer if you’re already well off.
Self Employment in the UK continues to soar. As of the end of the quarter to July 2018, a record 4.6 million Britons worked for themselves, indicating that this is becoming an increasingly popular employment option. Turner Little discusses the key considerations when choosing self employment. Find work during Self Employment Look at how you will
