Your Tax Help Accountants

08/02/2026

Does giving money to children reduce inheritance tax in the UK?

This short explains how UK inheritance tax treats gifts to children, including potentially exempt transfers, the seven-year rule, and the important normal expenditure out of income exemption.

Many people assume gifting automatically reduces inheritance tax, but the outcome depends on how the gift is made and whether it is properly documented. Getting this wrong can lead to unexpected tax on death.

If you are making regular gifts or planning to pass money to your children, understanding the UK IHT rules early can make a significant difference.

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05/02/2026

Missing an HMRC deadline can turn a small issue into a serious tax problem.

This real UK tax case shows how a missed filing deadline nearly snowballed into penalties, interest, and enforcement action — and why acting quickly made the difference.

If you’ve missed an HMRC deadline or are worried about penalties, early action can prevent the situation from getting worse.

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05/02/2026

22/01/2023

Read about inheritance tax in the United Kingdom.

Inheritance tax in the United Kingdom is a tax on the estate of a person who has died. The estate includes all property, money, and possessions owned by the…

17/01/2023

2023: What are the 10 ways to save on tax in the United Kingdom?

1. Maximize your pension contributions to take advantage of tax relief.
2. Use ISA's to save and invest tax-free.
3. Take advantage of capital gains tax exemptions and reliefs.
4. Use tax-efficient investments such as Venture Capital Trusts (VCTs) and Enterprise Investment Schemes (EIS).
5. Make the most of tax deductions for business expenses.
6. Take advantage of the Marriage Allowance to transfer a proportion of your unused personal allowance to your spouse or civil partner.
7. Rent out a room in your home and take advantage of the Rent a Room scheme.
8. Use the Gift Aid scheme to make tax-efficient donations to charity.
9. Use the Annual Investment Allowance to claim tax relief on the cost of business equipment.
20. Keep accurate records and claim all eligible expenses to minimize your tax liability.

04/06/2022

Company Tax Returns CT600 are due within 9 months after the year end and personal tax returns are due 31st January next year.