This document contains a short explanation of Capital Gains Tax, the allowances available in the 2024/25 tax year, and how you can use it in your year end tax planning.
General
This section contains miscellaneous & general financial information that you may find useful when dealing with certain life events.
Civil partnerships in the United Kingdom, granted under the Civil Partnership Act 2004, allow couples to obtain essentially the same rights and responsibilities as marriage. Initially the Act permitted only same-sex couples to form civil partnerships. This was altered to include opposite-sex couples in 2019. Though from March 2014 full same-sex marriage was legalised in England, Scotland and Wales, civil partnership remains available. Designed to be very much equivalent to marriage for same sex couples, a civil partnership carries both rights and responsibilities, in very broad terms, attracting the same legal and tax protections/advantages/disadvantages as a traditional marriage. This article explains further.
A short explanation of Inheritance Tax and how to plan for it in your tax planning.
UK News
Economists are betting on rates being held in September with a cut to come in November instead.
The Federal Reserve has cut its key lending rate by 0.5 percentage points - a larger cut than expected.
The social media platform formerly known as Twitter was banned in the country in August.
Boeing says it is suspending jobs for thousands of staff in the US due to a worker strike.
The Justice Department said repair costs should be carried by the companies responsible, not US citizens.