News

8 Jan 2024
Tax Tip Planning

Tax Tip Planning

The final article in our series of Tax Planning Tips 2023/24. To see how we can help, please click here to get in touch.     Feed employees with free or subsidised food in a staff canteen. Where the food is available to all employees, or all who work at a particular site, there is no…

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20 Dec 2023
The Scottish Budget 2023

The Scottish Budget 2023

The Deputy First Minister and Cabinet Secretary for Finance, Shona Robertson, faced some difficult decisions in drawing up her first Budget.  Inflation had taken its toll on spending, to which had been added new commitments such as a promised council tax freeze in 2024/25. The situation was exacerbated by the UK government’s decisions in the…

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13 Dec 2023
Tax Tip Planning

Tax Tip Planning

The penultimate article in our series of Tax Planning Tips 2023/24. To see how we can help, please click here to get in touch.     Choose the most tax-advantageous structure for your new business. When starting a new business venture, it can be difficult to predict the level of income it will generate. If losses…

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23 Nov 2023
Autumn Statement 2023

Autumn Statement 2023

Jeremy Hunt’s second Autumn Statement was set against a much less financially turbulent background than his first. However, politics still loomed large with a likely election in the next 12 months prompting calls for tax cuts from within the Conservative party. Until recently the Chancellor had attempted to stall such demands with warnings of “difficult…

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22 Nov 2023
Tax Tip Planning

Tax Tip Planning

The fifth article in our series of Tax Planning Tips 2023/24. To see how we can help, please click here to get in touch.     Plan to maximise your inheritance tax (IHT) nil rate band on death. Everyone has a nil rate band of £325,000 on which no IHT is charged. If you have children,…

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6 Nov 2023
Talk Money Week

Talk Money Week

This week Thorntons Investments are supporting #TalkMoney Week, designed to get us all talking more about the pennies in our pocket, our thoughts and feelings around money, and how and where to get help if and when you need it. Quite often, it’s just saying the words out loud that’s the hardest part. So, we’re…

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1 Nov 2023
Tax Tip Planning

Tax Tip Planning

Continuing with our Tax Planning Tips for 2023/24. To see how we can help, please click here to get in touch.     Maximise tax relief on your pension contributions by using all of your annual allowance. The annual allowance for 2023/24 is £60,000, but you can also use surplus allowance from the previous three tax…

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12 Oct 2023
Tax Tip Planning

Tax Tip Planning

The third article in our series on Tax Planning Tips for 2023/24. To see how we can help, please click here to get in touch.     Let rooms in your own home to one or more lodgers. Rent-a-room relief allows up to £7,500 of rent per property to be received tax free per year. The…

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20 Sep 2023
Tax Tip Planning

Tax Tip Planning

Our second article in our series on Tax Planning Tips for 2023/24. To see how we can help, please click here to get in touch.     Contribute up to £9,000 into your child’s Junior ISA. The fund builds up free of tax on investment income and capital gains until your child reaches 18, when the…

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31 Aug 2023
Tax Tip Planning

Tax Tip Planning

Over the next few weeks, we will be running a series of articles on Tax Planning Tips for 2023/24.  These general tips highlight ways in which you can currently use certain tax reliefs to your advantage, and how to avoid some of the tax penalties.  It can help you navigate the complexity of certain tax…

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