Tax Planning

TAX PLANNING

Young adults relying on inheritance to fund their own retirement are not taking into account how the cost of their parent's care will eat into their legacies, a report has found.

It should be mandatory for small self-administered pension schemes to have a professional trustee to avoid potential devastating tax charges, a provider has said.

People who have sold properties that are not their main homes, and have not told HM Revenue and Customs (HMRC) about any profit on the sale, have one week left to pay up.

Charlie Bean, the deputy governor of the Bank of England (BoE), has said the Bank has sent a "clear signal" it won't increase interest rates anytime soon as he expressed some surprise at investors' reaction to its position.

Two tax consultants have been charged with fraud over their part in a £1m tax scheme which took advantage of charity reliefs.

An independent financial advice firm is facing £1m in claims from clients who say it misled them over fees on a film tax scheme.

TECHIE

PASSPORT

Selling a property in some regions of Spain became more expensive this week following new tax hikes.