Artifin Accountants UK

  If you've received an invoice showing a VAT number and thought, "Should I just trust this?" the honest answer is: not always. A VAT registration check takes under two minutes, costs nothing, and could save your business from a costly mistake. What Is a VAT Number? A VAT number is the unique code HMRC assigns to a business once it's registered for Value Added Tax. In the UK, it looks like this : GB123456789   for businesses in England, Scotland, and Wales XI123456789   for Northern Ireland businesses trading with the EU It appears on every VAT invoice, confirms that a business is legally registered to charge VAT, and allows customers to reclaim VAT on eligible business purchases. If the VAT number is fake or invalid, HMRC can reject the VAT claim and you may not be able to recover the amount paid.. Do You Need to Register for VAT? You must register for VAT once your taxable turnover exceeds £90,000 in any rolling 12-month period. That's the threshold for 2025/...

  Pensions are an essential part of retirement planning for many individuals in the UK. They offer a source of income after a long working life and can often provide a sense of security for the future. However, when it comes to inheritance, many people are unaware of the potential tax implications on their pension savings.  With the introduction of new rules and changes to existing legislation, your UK pension may no longer be as protected from inheritance tax (IHT) as it once was. In this article, we’ll explore how inheritance tax pensions work. What is Inheritance Tax on Pensions? Inheritance tax is a tax applied to the estate of an individual who has passed away. It generally affects assets such as property, savings, investments, and pensions. In the past, pensions were often seen as a way to pass on wealth to your beneficiaries without incurring inheritance tax. However, the rules around inheritance tax and pensions have evolved, and in some cases, your pension may now ...

  UK Taper Relief: Lowering Tax on Lifetime Gifts When planning your estate in the UK, one of the most misunderstood areas is inheritance tax (IHT) on lifetime gifts. While many people focus on wills and death‑time planning, lifetime gifting can be equally important, and that’s where taper relief plays a crucial role. Under current UK tax rules, taper relief may reduce the amount of inheritance tax payable on gifts made within seven years of death, helping to preserve more of your wealth for loved ones. Understanding how taper relief works and how it fits into wider estate planning is essential for anyone considering lifetime gifts, particularly for high‑value estates. This is why many homeowners and business owners seek guidance from accountants in London , who regularly assist clients with up-to-date tax planning and compliance. What Is Taper Relief?  In the UK inheritance tax system, taper relief is a tax benefit that lowers the amount of IHT owed on gifts made during a p...