Taxation

The Income Tax calculator provides an indication of a client’s net income after deducting income tax and national insurance from different sources. Calculations are based upon inputs of the client’s non-savings, savings, dividends and non-taxable income from different sources such as ‘income’ or ‘accumulation’ units or Trust income. The calculator takes account of; Whether a client...

This calculator will provide an indication of the current Inheritance Tax liability that will be due on the death of the clients (and spouse) This will be based upon the input of clients’ and spouses’ assets whether owned personally or jointly. This will include their personal, business, agricultural, pension assets, any life assurance and gifts made....

The Inheritance Tax Gift calculator provides an indication of the amount of initial tax to be paid by the Trustees or Settlor on a Chargeable Lifetime Transfer (CLT), and the potential additional tax that would need to be paid on death by the gift recipients and the estate. Once the gifts have been input the calculator shows...

This calculator provides an indication of the amount of Inheritance tax (IHT) that can be saved by setting up a Loan Trust arrangement, and the potential IHT periodic and exit charges that may be incurred. Loan Trust arrangements can be useful plans for clients who want to do something about inheritance tax but do not want...

The Capital Gains calculator will look at an individual holding to establish whether a Gain or loss would arise on selling units for that holding. Capital Gain calculations are not normally simple, because shares are pooled (called ‘section 104 holdings’) and the purchase unit price has to be the average cost of purchasing those units. Therefore,...

In 2024/25, the Capital Gains Tax Annual Exempt Amount (AEA) is £3,000 for individuals – reducing from £6,000 in 2023/24. This is a ‘use it or lose it’ allowance, in that any unused amount cannot be carried forward to a subsequent tax year. The objective of the Utilising the Capital Gains Tax Annual Exempt Amount...

The Capital Gains Tax Summary calculator provides an indication of an individuals CGT liability as a result of disposing of investments. Once the Capital Gains calculations have been completed for each individual holding (including residential property that does not receive 100% Private Residence Relief e.g. Buy To Let), you can then input; This will show the total...