The OECD joins the inheritance tax debate

Inheritance tax is being reviewed

The Organisation for Economic Cooperation and Development (OECD) is the latest body to wade into the inheritance tax debate – on a global scale.   Inheritance tax (IHT) and similar gift/estate taxes raise a very small portion of overall tax revenues in the OECD countries that have them, as the graph above shows. Even in the UK, which levies that tax at above the OECD average, IHT produces less than £1…

Read More

Is inflation creeping up?

Is inflation beginning to rise?

A global jump in inflation in 2021 is raising the prospect of a broader upward trend. The risk of the return of inflation has become a focus of attention in investment circles. As the graph shows, 2021 has seen a jump in the inflation rate in the US, UK and Eurozone. Inflation matters to investment markets because the standard central bank…

Read More

Claim your tax relief for working from home

Working from home - tax relief available

If you have been working from home during the pandemic, don’t forget you could be due some tax relief.  Employees, required by their employers to work from home (WFH, as it has become known), have been able to claim tax relief long before the pandemic hit. The relief is designed to recoup the additional costs of WFH, such as paying…

Read More

Timing retirement saving

Pension savings

Research from the Institute for Fiscal Studies (IFS) examines how pension contributions fit into life-cycle patterns.  Economists often seem to think in a way that is unique to their world. Many of their theories start with the assumption that people behave rationally, weighing up all the pros and cons before deciding what action to take. Impulse-buying doesn’t compute with these expected behaviours.  One interesting economic viewpoint that holds some…

Read More

Unhappy families – challenging inheritance issues

The outcome of a recent High Court case is a warning for anyone challenging a will.   As inheritances become more valuable, the number of disputes about wills have increased. Court cases rose by almost 50% to 188 in 2019 compared to the previous year according to the latest Ministry of Justice figures.   Many more are settled or abandoned along the way. The…

Read More