Post by @kimberleyonline

TAX CHANGESnTO BEnMADE AWARE OF INnAPRIL 2027nUKnDo the UK 2027nTax updates scare you?nFrom April 2027, tax on rentalnincome will rise by 2%nDo the UK 2027nTax updates scare you?nPrevious ratenNew ratenBasic raten20.0%n22.0%nHigher raten40.0%n42.0%nAdditional raten45.0%n47.0%nSavings interest tax will go upnacross the board from AprilnDo the UK 2027nTax updates scare you?nDividend tax from April this yearnwill be going up for both the basicnand higher rate taxpayersnDo the UK 2027nTax updates scare you?nDo the UK 2027nTax updates scare you?nPension And Inheritance TaxnChanges From 5 April 2027?nWhat's changing?nExemptions that stillnapply?nFrom 6 April 2025, unusednpension benefits will benincluded in an individual'snvalue on their death.nTransfer to a surviving spousenor civil partnernTransfer to a charitynQuadruple-service benefitsnwill be exempt from IHT.nWhy the change?nThe view is that pension schemesnare not a tax-efficient vehiclento transfer wealth free ofnInheritance Tax, and are usednto save for retirement.nImpact of new rulesnIn total, 10,000 estates would havena tax bill of £10,000 more thannthey previously would not.nAutumn Budget 2025nOn 26 November 2025, the United Kingdom (UK)nChancellor of the Exchequer, Rachel Reeves, deliverednher Autumn Budget. A number of changes werenannounced that will impact the taxation of individuals.nBelow is a summary of the key announcements:nINHERITANCE TAXnCHANGES FROM 2027nHistorically, many pension pots fell outside thenInheritance Tax (IHT) net, especially when passednthrough discretionary trusts. However, with growingnpension wealth and evolving estate planning strategies,nthe government sought to ensure fairness andnconsistency in taxation.