Latest - TAX AND TRUSTS

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  Balancing retirement income and wealth legacy options

  9 October 2018

  Peter Hopkins, technical director at AJ Bell, looks at the practical issues with which retirees now have to contend and the options they have when it comes to balancing the taking of income and leaving wealth to their beneficiaries. Since 2015, the temptation for some people to plunder their pension savings has become greater, especially when over 55...

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  HMRC tax take from Lifetime and Annual allowances soaring

  1 October 2018

  The amount of tax raised from those exceeding the Lifetime Allowance has soared to £102m in 2016/17 from just £5m in 2006/07, figures released by HM Revenue & Customs show. Most of the increase has taken place since 2012, when the government started cutting the Lifetime Allowance. The allowance was nearly halved from a peak...

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  30 September deadline for ‘disguised remuneration’ schemes

  25 September 2018

  The clock is ticking for anyone who has used a ‘disguised remuneration’ scheme to arrange a settlement or face new tax charges next April. The government has said loans or debts from a disguised remuneration scheme – where ‘income’ is replaced with ‘loans’ – will be taxed as earnings if they haven’t been fully...

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  Octopus announces fund raising for Titan VCT

  20 September 2018

  Octopus Investments has opened fundraising for its Octopus Titan venture capital trust, targeting £120 million. The latest fundraising for the company’s flagship VCT follows a record-breaking fundraise last year when Titan raised £200 million. The VCT offers investors access to a portfolio of over 65 smaller companies, with a specialism in tech-driven businesses in...

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  High expectation for VCT fund raising in 2018

  18 September 2018

  Venture Capital Trust (VCT) fundraising is set to fare well this year with investors continuing to look for tax-efficient alternatives to traditional pension savings, according to Albion Capital. The firm expects this year’s fundraising to be as successful as last year’s, which was the second highest on record, in part thanks to growing awareness...

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  High earners warned to tackle tax plans before the Budget

  13 September 2018

  Britain’s highest earners should ensure their tax relief plans are in order ahead of a potential government raid on pension pots, deVere Group has warned. The warning follows reports that Chancellor Philip Hammond has identified some £38bn in pension tax relief as a possible target for the Treasury’s November Budget. Nigel Green, founder and...

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  Technical: Planning for school fees 

  4 September 2018

  Canada Life’s Kim Jarvis presents a case study on how to use onshore bonds to pay the next generation’s school fees Investment bonds are all about giving choices and being able to meet your client’s needs and goals. Let us consider Stephen and Sarah who have been talking about sending their children to a...

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  ‘Simply Saving’ plan to slash pension tax relief would save Govt £10bn

  4 September 2018

  Pension tax relief reforms put forward by a leading think tank could increase distrust and complicate the pensions system, industry commentators have warned.  The Centre for Policy Studies has proposed abolishing tax relief on pensions and replacing it with bonuses on individual and employer retirement savings contributions and a Workplace ISA. In its “Five...

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