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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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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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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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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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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This article first appeared in the Dundee & Angus Chamber of Commerce website, 30th October 2023, click here to view the article. Monday 23rd October First day back at work after a week’s annual leave (3 days of which were spent at home baking thanks to Storm Babet!) and a busy day ahead it…
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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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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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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…
Continue ReadingSimon Lewis joined the Discretionary Portfolio team at Thorntons Investments in May 2023 supporting its growth strategy in discretionary funds under management across a range of individual client and trust portfolios. Simon brings a wealth of experience to his role as Portfolio Manager with almost 20 years working as a stockbroker, private banker and investment…
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