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Tax

Adviser warns on IHT complacency

00:01 | 15 Jul 2008 | By Richard Harris

The public should maintain inheritance tax planning despite politicians competing for voters by increasing tax-free allowances, according to Skipton Financial Services.

Govt prepares statutory test for non-doms, says CIOT

11:30 | 01 Jul 2008 | By Michelle McGagh

The government is planning to bring in a statutory test for non-domiciles next year to make it easier to determine residency, says the Chartered Institute of Taxation.

Standard Life writes mutual funds into trust as part of IHT solution

09:30 | 01 Jul 2008 | By Michelle McGagh

Standard Life is part of an emerging trend of firms writing mutual funds instead of bonds into trusts to protect clients from inheritance and capital gains taxes.

Falling home sales prompt renewed calls for stamp duty reform

00:01 | 01 Jul 2008 | By Chris Marshall

The Royal Institution of Chartered Surveyors wants a two-tier tax system in which no one would pay the stamp duty on the first ₤150,000 of a house price.

Wealthy risk sleepwalking into tax trap on savings

15:34 | 30 Jun 2008 | By Edward Lander

High-net-worth clients could lose enhanced protection of their savings over the lifetime allowance if they are automatically enrolled into personal accounts from 2012.

Compensate 1.1 million households for tax mistakes, says Treasury Committee

00:01 | 28 Jun 2008 | By Chris Marshall

The Govt should do more to compensate the households who have lost out from Budget measures to abolish the 10p income tax band, a cross-party committee of MPs has concluded.

KPMG: Advisers need non-dom exemption extended

00:01 | 26 Jun 2008 | By Michelle McGagh

Investment advisers based in the UK could miss out on business from non-domiciles in the country, despite an amendment in the Finance Bill to prevent assets moving offshore

Government performs U-turn on offshore tax credits

09:00 | 17 Jun 2008 | By Michelle McGagh

The government has changed its mind on a decision to give tax credits to offshore fund dividends over fears of an outflow of money from UK bank accounts into offshore bond funds.

Myles is on a mission to save us from the taxman

00:01 | 05 Jun 2008 | By Sara Smith

Octopus Investments managing director Guy Myles is determined to help clients keep hold of their hard-earned money through the use of an innovative range of tax-efficient investment options.

New tax rules hit low-income non-domiciles hard

00:01 | 30 May 2008 | By Michelle McGagh

Source ceasing rules announced in the pre-Budget report will hit non-domiciles on low incomes, despite government efforts to keep them out of the tax net.

Advisers could be forced to repay trustee tax errors

10:01 | 29 May 2008 | By Michelle McGagh

HMRC wants financial advisers to pay back tax to trustees that say they were ill-advised.

Widowed partners should adjust wills for tax gains

00:01 | 28 May 2008 | By Michelle McGagh

The ability to transfer nil-rate bands should not negate the use of wills, with widowed persons benefitting most from drawing up their will.

Barwell promotes offshore IHT plans

00:01 | 28 May 2008 | By Michelle McGagh

Advisers should ditch discretionary gift trusts in favour of more innovative inheritance tax planning solutions, says adviser Clive Barwell.

Bond sales drop 38% in three months, says ABI

15:56 | 21 May 2008 | By Michelle McGagh

The move by chancellor Alistair Darling to fix capital gains tax at a flat rate of 18% has hurt the sale of bonds, taxed at 40%, cutting new business across single and regular premium products, pensions and offshore business.

HMRC scrutinises people who use pensions to cut IHT

14:02 | 21 May 2008 | By Michelle McGagh

Revamped IHT disclosure documents reveal HMRC interest in pension contributions.

Asset allocation overlooked in bond versus collective row says FundsNetwork

09:13 | 21 May 2008 | By Michelle McGagh

The underlying investment should be the advisers concern when it comes to bonds and collectives says Paul Kennedy of FundsNetwork.

Bond investments face care-needs test

00:01 | 21 May 2008 | By Michelle McGagh

Long-term care means testing could be extended to investment bonds as the government tries to plug a £6 billion gap.

10p U-turn lowers higher rate tax band

00:01 | 21 May 2008 | By Michelle McGagh

The higher rate tax threshold has been cut by £600 to make sure that basic rate taxpayers are the only ones to benefit from the change in personal allowance.

CGT changes exploited in new Thames River share class

13:04 | 20 May 2008 | By Dylan Lobo

Thames River has launched a new share class in its fund of hedge funds which it hopes will exploit changes to CGT.

Darling forks out £2.7bn to quell 10p tax backlash

16:54 | 13 May 2008 | By Michelle McGagh

Basic-rate taxpayers will get an extra £600 personal tax allowance following Darling's statement today.

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