There is growing noise from economic experts who suggest that Chancellor Rachel Reeves may have to break Labour’s manifesto pledge in order to fill the UK’s economic black hole.
Author Archive: Muhammad Zia
The realities of rising energy costs: How can you manage the changes?
It has been confirmed energy costs will increase by two per cent from October affecting households and businesses.
What happened to WH Smith? How to protect your business from accounting errors
Sometimes small mistakes can have devastating consequences, as WH Smith recently discovered.
Making Tax Digital for Income Tax: How many will be impacted?
HM Revenue and Customs (HMRC) is continuing to innovate and modernise how taxpayers file their returns and report information. It is committed to its digital transformation roadmap and part of this is the Making Tax Digital (MTD) initiative.
HMRC urging parents to extend Child Benefit claim with deadline on the horizon
Parents have until 31 August 2025 to extend their child benefit claim and HM Revenue and Customs (HMRC) are urging parents to act fast and submit their extension claim before the deadline.
Think your business doesn’t need an audit? The chaos with the local councils says otherwise
It’s no secret that many of the local councils throughout England are on the verge of bankruptcy or have already crossed that threshold.
Have you validated your identity with Companies House?
Companies House’ voluntary window to validate your identity is coming to end on the 18 November 2025 with the checks becoming mandatory from that date.
Are further Inheritance Tax reforms on the horizon?
Inheritance Tax (IHT) has proven a popular avenue for the Chancellor Rachel Reeves as she attempts to balance the Government’s books and there is growing belief that she could introduce further measures on IHT later this year.
Rising Inheritance Tax bills highlight the importance of planning ahead
The latest statistics from HMRC for 2022/23 show a clear message: more families than ever are facing Inheritance Tax (IHT) bills. Without careful planning, your estate could be one of them.
Despite IHT still applying to fewer than one in twenty estates, 31,500 estates paid the tax in 2022/23 – up 13 per cent from the previous year.
The total IHT bill reached £6.7 billion, an increase of £710 million year on year, driven by rising asset values, frozen thresholds, and the residence nil rate band (RNRB) being held at 2020/21 levels.
Why this matters to you
While the headline rate of IHT is 40 per cent, the average effective rate is closer to 13 per cent, thanks to reliefs, exemptions, and tax-free allowances.
However, these savings only happen with careful, proactive planning – something too many families overlook until it’s too late.
Without a strategy in place, you could see a significant portion of your estate lost to tax, rather than passed to your loved ones or chosen causes.
The recent fall in reported charitable giving (from £2.07 billion to £1.92 billion) also highlights the risk of good intentions being missed without proper structuring.
How Rotherham Taylor can help
Our expert tax, estate planning and probate team can:
- Maximise available allowances and reliefs to reduce your IHT bill
- Structure your assets to make full use of the residence nil rate band and other exemptions
- Ensure your Will reflects your wishes and is tax-efficient
- Support you in making lifetime gifts and charitable donations in a way that benefits both you and your beneficiaries
- Guide your family through the probate process, ensuring your estate is managed and distributed efficiently
The earlier you act, the more options you have to protect your wealth. If you would like to get your affairs in order and explore ways to reduce your potential IHT liability, speak to our team today.
Supporting Samaritans – our charity of the year
We are proud to be supporting Samaritans as our chosen charity of the year for 2025.
The work they do – being there for anyone who is struggling to cope with their mental health – is vital, which is why we’re committed to helping raise both funds and awareness for this incredible cause.
Throughout the year, our team will be taking part in a series of fundraising activities, with one of the highlights being the Samaritans Dawn Walk.
Walking together for World Mental Health Day
The Dawn Walk is a special challenge to walk 5K at sunrise between Friday 10 and Sunday 12 October 2025, in celebration of World Mental Health Day and in solidarity with those facing difficult times.
Participants can choose a route that’s meaningful to them, whether it’s a favourite trail or a familiar daily path and take part either solo or as part of a team.
Already, more than 717 walkers have pledged to take part, with almost 1,000 donations made across the UK.
By joining in, we hope to add to these numbers and contribute towards the life-changing work Samaritans carry out every single day.
Why we’re taking part
The Dawn Walk is more than a fundraiser. It’s an opportunity to reflect, connect and show support for those who need it most.
Every step we take helps Samaritans answer more calls, train more volunteers and ensure that no one must face life’s challenges alone.
We look forward to sharing updates from our walk and other fundraising events throughout the year, and we’d love for you to support us along the way.
If you would like to show your support for this incredible cause, please visit our JustGiving donation page: https://www.justgiving.com/page/rtcharityoftheyear
