News about Sean McCann

I am a 74-year-old self-employed woman who has operated my own firm as a sole trader for the past 35 years. I am still working and intend to keep doing this until I sell my company, but someone recently told me that pension tax relief will not be granted until the age of 75. Should I put the maximum lump sum I can afford into my pension before the deadline to get the tax relief?Also, why do people like me lose tax relief at 75? It doesn't appear that those of us in our seventies are being treated very well.

It doesn't need complicated trusts or bonds, expensive advice, or endless admin. The exemption is described as giving out of surplus funds. In other words, you can spend as much money as you please as long as it comes from your income rather than existing assets. Unlike most other gifts, those made in this way are unaffected by the seven-year monarchy, although inheritance tax may be levied if you die within seven years of making them. Gifts made from regular, surplus income are tax-free and will not incur a bill later today.

A growing number of families are searching for ways to lower their costs as inheritance tax receipts hit a new high of £7.1 billion a year. There are many legitimate ways to give money to loved ones without incurring tax from making gifts throughout your lifetime to establishing trusts. However, doing your homework is well worth it before you steamroll ahead. If the family is unexpectedly paying the bill, you may inadvertently land them with an unexpected tax bill. Wealth & Personal Finance has eight key mistakes you should avoid when planning the future of your estate and how much money they could cost you.

Just five months after being sentenced to an open prison for a 20-year fight against her husband. Sheree Spencer, 45, was sentenced to four years in prison by a judge who characterized her husband Richard's torture as "the worst case of coercion control" she had ever seen. So Mr Spencer was shocked when she learned she had been moved out of high security HMP New Hall, West Yorks, in July to Askham Grange open prison near York, despite her protest. The open prison has a garden center and coffee shop, which inmates can work in, a far cry from the strict one at New Hall.

Penalties can be levied for late forms and payments, undervaluing or hiding assets subject to inheritance tax, which a growing number of families are paying due to frozen thresholds and the property boom over the last decade. So how much are inheritance tax penalties, and what are the pitfalls that can get you in trouble with the taxman? We'll go through the legislation.

Overpaid inheritance tax must be paid by HMRC more promptly, but thousands of pounds can be recovered if you sell a house for less than four years after a death. Investment taxes have been paid back on investment losses, but only if you sell for a lower price within the first year after a bereavement.

EXCLUSIVE: Sheree Spencer, 45, beat and humiliated Richard, 46, 46, (pictured together inset), in the worst case of controlling behavior the judge had ever seen. Spencer's brother Sean McCann (pictured left and right with his sister) rang Mr Spencer and asked him sums ranging from £42,000 to £100,000 before arguing, threatening to 'ruin his life' if he pursued the trial against Sheree. McCann, 44, was reported to have been 'acutely distraught and worried' by his sister's impending trial for her campaign of abuse against her husband.

In court today, the lover (left) of a sadistic prison reform boss who put her husband through a 20-year fight of torture was charged with witness intimidation. Sheree Spencer, 45,(right) was sentenced to four years in prison for making her husband Richard Spencer's life (inset) a living hell with daily beatings and verbal assaults that left him cowering on the ground in the enemy's place. Adrian Taylor, 52, appeared in crown court today charged with bullying a former Spencer friend.

According to a cross-generational report, nearly half of middle-aged people are anxious about handling their parents' money since they are no longer able to cope. Many in the older generation also suffered from a lack of candour, with a quarter of whom said they had never spoken to their children about their finances at all.

Sheree Spencer, 45, (left) of Bubwith, East Yorkshire, was sentenced to four years in prison for a series of brutality and sexual abuse against her husband Richard (pictured together: the worst example of controlling and coercion behavior the judge has ever seen). Now Spencer's brother, Sean McCann, and her companion, Adrian Taylor (top right) are charged with allegedly trying to warn off witnesses who might have been summoned to testify against her. Spencer, 46, made his life a living hell with verbal assaults and beatings that left him cowering on the ground in the foetal position. She defecated on the floor and ordered him to wash it up on one occasion, and on another, she beat him with a wine bottle so bad it permanently damaged his ear.

Many bereaved families are left 'at their wits' end' and out of pocket' as a result of tax recoverability, according to legal and finance experts. Following a warning from lawyers last month that surviving families are experiencing emotional distress and seeing property sales collapse during the probate process, waiting times on unlocking estates are up again.

These refunds are so little known and understood that new analysis revealed that some of the UK's top paid employees earned out on a staggering £1.3 billion between 2016 and 2021. If or not you are owed a pension tax relief refund depends on your income, pension contributions, and what kind of pension plan you are following - read our seven-step guide to claiming it here.

Many people may find that "as soon as possible" is the only answer to how to put RETIRE in big red letters on your calendar. However, if you have the luxury of choosing the time of year as well as the age you wish to give up work, there are some financial considerations to keep in mind. Pension experts provide tips on how to make the transition into retirement.

According to a freedom of information request by law firm Nockolds, a record number of inheritance rows are battling the distribution of estates is up 37% in 2021 compared to 2019. A living spouse can make a new will following the death of their partner without any limitations or regard to their late spouse's wishes under law.

According to new data, more than 4,000 bereaved families were investigated by HM Revenue & Customs last year over allegations of underpaid death duties. In total, the taxman paid out a £326 million bill for IHT payment slips in 2021/22 - up 28 percent on the previous tax year. So could you find yourself at the centre of an inheritance tax probe?And how do you avoid getting caught out by the tangled web of rules?

Annuity rates have increased because interest rates have risen, which has triggered a major financial crisis. These are now looking good, and people who have been burned by recent market losses may favour a safe and secure pension from an annuity rather than being exposed to investment risk in old age. Other retirees may be skeptical of annuities and are reluctant to go all-in. Annuity purchased with a reduced pot would intensify your losses, and the Bank of England is expected to continue raising interest rates, which would raise their value even more. However, there are also halfway house options available.

When fixing for one year, Castle Trust Bank has introduced a new best buy savings deal that has enabled savers to see a 37 percent return. With a 3.2 percent offer, it has also outstripped Santander in the cash Isa stakes. We discuss who Castle Trust are and a look at the competition in the saver market as interest rates rise dramatically.