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IHT – gifts made with reservation of benefits

IHT – gifts made with reservation of benefits

by | May 28, 2026 | Inheritance Tax

Most lifetime gifts are treated as potentially exempt transfers (PETs) for Inheritance Tax (IHT) purposes. In general, these gifts become fully exempt if the donor survives for seven years after making the transfer. If death occurs within seven years, the gift may...
A reminder of tax-free trivial benefits

A reminder of tax-free trivial benefits

by | May 28, 2026 | Employee Benefits

Employers looking to provide staff with small gifts or seasonal tokens of appreciation should remember the rules for tax-free trivial benefits. A benefit can qualify as a trivial benefit where all of the following conditions are met: the benefit costs £50 or...
Key person policies and tax relief

Key person policies and tax relief

by | May 28, 2026 | Corporation Tax

Many businesses take out “key person” insurance policies to protect against the financial impact of losing an important employee, director or other individual who is central to the success of the business. These policies may provide cover for death,...
Government measures to ease rising fuel costs

Government measures to ease rising fuel costs

by | May 28, 2026 | General

The government has announced a package of measures intended to help motorists and businesses manage rising fuel costs following disruption linked to the conflict in Iran. As part of the package, the temporary 5p fuel duty cut has been extended until the end of 2026....
Increase in approved mileage rates

Increase in approved mileage rates

by | May 28, 2026 | General

The Chancellor of the Exchequer, Rachel Reeves updated Parliament on 21 May 2026 on the Government’s economic response to the war in Iran and the wider measures being taken to support households and businesses with rising cost pressures. One of the measures...