With more and more people each year passing assets and money to friends and family, its important to know that passing on items with monetary value in the wrong way can incur higher taxes if not done the most tax efficient way.
The individual circumstances for each person are unique and as such you should always seek expert tax advice from an expert like Tax Affinity Accountants - considered one of the Industry leader's with regards to their tax and accounting knowledge and experience. However we have also listed the basic rules below as a guide:
By Anni Khan at Tax Affinity Accountants
Tax Affinity Accountants are experts in Tax and Accountancy. With branches in Surbiton , Worcester Park , Kingston upon Thames , Cheam and Epsom they are considered in the Industry to be expert accountants and tax advisors for small businesses. Helping and supporting business throughout the UK, they regularly help clients grow their business providing tailored advice and support.
For more information visit www.taxaffinity.com. To read more interesting articles like this visit www.taxaffinity.com/blog. Please feel free to comment and share this with your friends.
Our experienced accountants and tax advisers provide valuable insights into practical every day questions and issues.
Add blog to our blog directory.
Ask your own question: If you would like to have a tax related question answered here, please send your question to email@example.com.