November 2017
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Latest - TAX AND TRUSTS

  • EIS changes seen as boost for new technologies and innovative industries

    23 November 2017

    Chancellor Philip Hammond has doubled the Enterprise Investment Scheme investment limit, in a bid to encourage more investment in knowledge-intensive companies.  This will see the limit on the amount an individual may invest rise from £1 million to £2 million in April 2018, earning investors up to as much as £600,000 in tax relief....

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  • Budget docs reveals IHT in HMRC crosshairs

    22 November 2017

    HM Revenue and Customs unveiled its own commissioned research report looking at how the inheritance tax system is functioning. It provides a further hint the IHT system is in the crosshairs for future reform, says Rachael Griffin, tax and financial planning expert at Old Mutual Wealth The IHT system is not straightforward and has...

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  • Stamp duty change ‘show stopper’ will have disproportionate effect

    22 November 2017

    Stamp duty will be abolished immediately for the majority of first time buyers, Chancellor Philip Hammond announced in his November Budget.  In an effort to address the housing crisis, first-time buyers will pay zero stamp duty on homes costing under £300,000 and for the first £300,000 of any property that costs up to £500,000....

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  • Budget Summary

    22 November 2017

    Alongside an extra £3 billion of funding to prepare for Brexit over the next two years, in the Autumn Budget 2017 Chancellor Philip Hammond announced the following: No changes to the pension system Given that the pensions freedoms are less than 3 years old the fact that there has been no further tinkering with...

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  • Why we won’t be getting a normal post-election Budget

    20 November 2017

    Matt Phillips, Wealth Management managing director at Thomas Miller Investment, comments on what might be expected from Wednesday’s Budget. “Post-election Budgets tend to be characterised by big sweeping changes which generate lots of income for the government to use ahead of the next election. But this one is bound to be different. Politically, the...

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  • Budget: Possible pensions, tax and investment changes and a wish list

    17 November 2017

    Les Cameron, head of technical at Prudential, considers the key pensions, tax and investment issues the Chancellor could address and adds a wish list of his own. Tax relief A reduction in tax relief and potential removal of the tax-free lump sum are often mooted before budgets but I don’t think the tax-free lump...

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  • Budget viewpoint: Investment tax advantages

    16 November 2017

    All this week the technical experts at Utmost Wealth will be giving us their views of what we might see, or they would like to see, in the Autumn Budget on Wednesday 22 November. Here, Barry Foster, technical sales manager (pictured), believes the EIS and VCT regimes may see changes. Further to the Treasury’s...

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  • Enhanced Lifetime Allowance (International) protection and when it may be used

    16 November 2017

    Jenny Ryan, paraplanner with Anderson Anderson & Brown Wealth, flags a rare but useful breed of LTA protection and how she was able to use it to save a client £470,000 of future tax. Lifetime Allowance protection. How often do you have a client that has such concerns? If you’re anything like me, on...

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