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Latest - TAX AND TRUSTS

  • Technical: Compliance with HMRC in SIPP connected tenant rent reviews

    27 March 2018

    John Keenan, corporate development manager, Xafinity SIPP & SSAS looks at the importance of ensuring connected tenant rent reviews are always on a ‘commercial basis’ to ensure compliance with HMRC. Many SIPP & SSAS pension scheme properties have ‘connected party’ tenants, in our portfolio it is just over half, and it is easy for...

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  • End of tax year action points for pensions, tax planning and child benefits

    21 March 2018

    Action is required by those saving into pensions, tax planning and those receiving child benefits, says Kay Ingram, Director of Public Policy at LEBC. Ingram points out that clients need to act soon to avoid missing out on tax-free savings opportunities, particularly with an early Easter this year cutting into the end of tax...

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  • Value of SIPP/SSAS property purchases up 38%

    21 March 2018

    Xafinity SIPP/SSAS, part of pension specialist Xafinity Punter Southall, has reported a jump in the number of investors turning to commercial property investments and the value of those transactions. The firm said 178 commercial property transactions were completed in 2017. The total value of the properties was £62.3m, marking a 38% increase in value on...

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  • Technical: Effects of the reduction in the dividend allowance

    19 March 2018

    Kim Jarvis, technical manager, Canada Life looks at what the reduction in the dividend allowance from April 6 will mean for clients. It was announced in the 2017 Spring budget that the tax-free dividend allowance, which was introduced at a level of £5,000 in 2016/17, will be reduced to £2,000 from April 2018.  The...

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  • HMRC Lifetime Allowance tax take up by 2,100% in decade

    18 March 2018

    The reduction in the lifetime allowance led to a 2,100% increase in the government’s tax take in 2016-17 compared to the 2006-07 tax year, according to Old Mutual Wealth.  In 2016-17, the government collected £110m from 2,410 people who exceeded the lifetime allowance of 1m. Since 2006, there has been a 1,047% increase in...

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  • Technical: RNRB downsizing addition case studies

    15 March 2018

    The Residence Nil Rate Band keeps on helping – even after downsizing. Canada Life’s Kim Jarvis explains.  In addition to the standard nil rate band (£325,000), from 6 April 2017 each person is entitled to a residence nil rate band (RNRB) to use against the value of their home if it is left to direct...

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  • Technical Insight Seminars 2018 – Q&A, Paul Squirrell

    8 March 2018

    In this quickfire Q&A, Paul Squirrell, national pension sales manager at Fidelity FundsNetwork tells Rob Kingsbury how the company is supporting paraplanning and what he likes best when presenting to paraplanners. 1. How do you see the role of paraplanners in the financial planning market and going forward? Paraplanning has really risen to the...

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  • Tax / Technical: Annual Allowance issues for DB members

    7 March 2018

    Fiona Tait, technical director, Intelligent Pensions looks at the complexity of end of year tax calculations for clients with DB pensions when it comes to the Annual Allowance – and uses a case study to explain the system. It’s that time of year again, four weeks to go and clients want to know how much they...

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