Are You Claiming All The Pension Tax Relief You are Due?
Are You Claiming All The Pension Tax Relief You are Due? One of the things we do as financial advisers is ensure that our clients do not pay more tax than they are required to pay. It should be simple, but our tax system is so complicated that we often see clients not claiming all […]
New tax rules may impact UK clients investing in Offshore Investment Bonds
New tax rules may impact UK clients investing in Offshore Investment Bonds On the 6th April this year new capital gains tax (CGT) legislation was introduced; it’s aim is to tax non-UK residents investing in UK property. The new tax rules have proven to be highly complex (no surprise there!) and there has been little […]
New Trust Registration Rules: Are You Ready?
New Trust Registration Rules: Are You Ready From the 10th March 2020, the EU 5th Money Laundering Directive (5MLD) will come into force requiring most UK trusts to register with the Trust Registration Service. Trustees of existing trusts will have a year in which they must make their trust registration, and new trusts established from […]
Inheritance tax and gifting – are we going to see a major change to the rules?
The Office for Tax Simplification (OTS) has published its second report into inheritance tax (IHT). The independent report ordered by the chancellor has, amongst other things, called for a major shake-up of the rules around gifting money. To simplify the complexity of current gifting rules, which it says few people understand, the OTS recommends that […]
Investing for Income in Retirement
Saving and investing for your retirement can be viewed as the biggest financial challenge. Whilst saving for your retirement, you want to maintain a good standard of living at the same time as building a career or business, getting on and up the property ladder, raising a family and perhaps paying school fees. Not an […]
Using the Tax System to Boost your Investment Returns
If you dread completing a tax return and have only just made your online submission, leaving it to the last minute, you will probably agree that the UK tax system is incredibly complicated. Arranging your finances so that you make use of the available tax wrappers and tax allowances could go a long way to […]
Recent Court case has inheritance tax (IHT) implications for pension transfers
In April 2015 the tax rules were changed to give people greater access to their pensions, and as a result many people have already transferred their pensions to benefit from more options at retirement and the enhanced death benefits that are now available. However as a result of a recent court case, delaying your decision […]
Lifetime gifting: how much can I afford?
According to recent research commissioned by Sanlam UK, almost two-thirds of 25 to 45 year olds expect to receive an inheritance from parents or grandparents. Of these, almost a third believe they are on course to receive £50,000, with the average anticipated inheritance being £233,000. Around a third of those expecting a substantial inheritance admit to […]
Property Prices push Inheritance tax take beyond £5 billion
HM Revenue and Customs recently revealed that 2017/18 was a bumper year for inheritance tax (IHT) receipts, indeed it was record year in that respect. A whopping £5.2 Billion was paid by estates, up from £3 Billion just 5 years ago. An increase of just under 75%. However, in recent years we have seen the […]
Choices at retirement: Caught like a rabbit in the headlights?
For many people deciding how to use their pension savings is one of the most important, and often scariest financial decision they will ever make. Whilst the pension freedoms introduced by the Government in April 2015 has given people much greater flexibility in how they can access their pensions, more choice has added to the […]
