For the current tax year, taxpayers with adjusted net income between £100,000 and £125,140 will face an effective marginal tax rate of 60%, as their £12,570 tax-free personal allowance is gradually withdrawn.

If a taxpayer earns over £100,000 in any tax year, their personal allowance is gradually reduced by £1 for every £2 of adjusted net income exceeding £100,000. This ceiling applies regardless of age, meaning that any taxable receipt that pushes their income above this threshold will lead to a reduction in their personal tax allowances. If their adjusted net income reaches £125,140 or more, the personal Income Tax allowance will be reduced to zero.

Adjusted net income refers to a taxpayer’s total taxable income before personal allowances, minus certain tax reliefs such as trading losses, charitable donations, and pension contributions.

Taxpayers in this income band should consider financial planning strategies to avoid this "personal allowance trap." Reducing income below £100,000 could be achieved by utilising options like increasing pension contributions, making charitable donations, or participating in certain investment schemes.

For higher-rate or additional-rate taxpayers seeking to reduce their tax bill, gifting to charity is one strategy. Donations made in the current tax year can be carried back to the 2024-25 tax year, provided the taxpayer requests the carry-back before or at the same time as submitting their self-assessment return, but no later than 31 January 2026.

The way we meet has changed dramatically in recent years. Technology now makes it possible to discuss projects, close deals and hold team meetings without ever leaving our desks. Yet for many, there is still something powerful about sitting across the table from another person. Both formats have their place, and the right choice often depends on purpose, people and context.

Online meetings are efficient. They remove the need for travel, save time and allow busy people to meet at short notice. For businesses with remote staff or clients across the country, video calls make communication easy and inexpensive. Online platforms also allow for screen sharing, document collaboration, and recording, all of which can make discussions more productive.

However, virtual meetings can have drawbacks. Technical glitches, weak connections and background distractions can interrupt the flow. It can also be harder to read body language or sense engagement, especially in larger groups. Without informal conversation before or after a meeting, relationships can feel more functional than personal.

Meeting in person allows for a deeper level of connection. Subtle cues, tone, and eye contact help build trust and understanding, especially when sensitive or complex matters are involved. Negotiations, strategic planning and first introductions often benefit from a personal touch. The act of meeting physically can also signal commitment and importance.

The disadvantages are mainly practical. Face-to-face meetings take more time and often involve travel costs. Coordinating diaries can be difficult and the environmental impact of regular travel is increasingly questioned.

For most businesses, a mix works best. Routine updates and quick check-ins are well suited to online meetings, while major decisions, negotiations, or relationship-building sessions still benefit from being held in person. The key is to choose the setting that best supports the outcome you want to achieve.

In today’s competitive market, many businesses feel pressured to extend generous payment terms to win new contracts. However, offering long or risky credit arrangements can strain cash flow and expose you to unnecessary financial risk. The good news is that there are other, more sustainable ways to attract and retain valuable clients.

One effective strategy is to focus on value rather than price. You should emphasise the quality, reliability and consistency of your service. Clients are often willing to pay on standard terms if they see that your business delivers dependable results and reduces their own risks. Highlight testimonials, case studies, and evidence of past performance to reinforce this message.

Second, improve transparency in your proposals. Set out clear timelines, deliverables and support arrangements. Buyers are more likely to accept normal payment terms when they feel confident about what they are getting and when they will get it.

Third, consider flexible but controlled options such as staged payments or deposits. These can balance client confidence with your need for steady cash flow. For example, 30% on order, 40% on delivery, and 30% on completion is often easier for clients to manage than a lump sum.

Finally, build strong relationships. Personal trust remains one of the most powerful negotiating tools. When clients view you as a partner rather than just a supplier, they are less likely to demand extended credit. The aim is not to win contracts at any cost, but to win them on fair, sustainable terms that support both sides.

Certain buildings, land, works of art, and other objects of national significance may be exempt from Inheritance Tax and Capital Gains Tax (CGT) when they are transferred to a new owner. This exemption applies under a special tax relief for national heritage assets that are either gifted or bequeathed.

To qualify for this relief, the asset must meet at least one of the following criteria:

• Buildings, estates or parklands of outstanding historical or architectural interest
• Land of outstanding natural beauty and spectacular views
• Land of outstanding scientific interest including special areas for the conservation of wildlife, plants and trees
• Objects with national scientific, historic or artistic interest, either in their own right or due to a connection with historical buildings

Upon transfer of ownership, the new owner is required to enter into a formal agreement, known as ‘the undertakings. This agreement ensures that the asset will be cared for, made available for public viewing, and retained in the UK. Failure to meet these conditions, or selling the asset, results in the revocation of the tax exemption under the Conditional Exemption Tax Incentive scheme. As a consequence, the asset would then be subject to tax in accordance with the standard rules.

HMRC is guided by the government’s heritage advisory agencies in deciding which assets qualify for exemption.

When a couple is separating or undergoing divorce proceedings, tax issues are often not the first thing on their minds. However, alongside the emotional challenges, it is important to understand the tax implications of divorce can have a significant impact.

Changes to the Capital Gains Tax (CGT) rules for divorcing couples took effect on 6 April 2023. These changes extended the period during which spouses and civil partners can make transfers between each other without triggering CGT. The no gain/no loss rule now lasts up to three years after they stop living together. Additionally, if the couple has a formal divorce agreement, there is no time limit for these transfers. Before this change, the no gain/no loss treatment only applied to disposals in the tax year of the separation.

There are also specific rules for people who continue to have a financial interest in their former family home after separating. These rules allow them to claim private residence relief (PRR) when the home is eventually sold, provided certain conditions are met.

During divorce proceedings, it is crucial to reach a fair financial agreement, if possible, as this can help avoid further legal complications. If an agreement cannot be reached, the court may step in to issue a "financial order." Both parties and their advisers should also carefully consider the future of the family home, any family businesses, and the potential Inheritance Tax consequences of the separation or divorce.