Latest - TAX AND TRUSTS

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  How ‘the family approach’ can prevent delays to estate planning

  19 April 2021

  Sponsored article An unprecedented number of clients have delayed financial decisions because of the pandemic. But an indirect approach can help turn hesitation into urgency, says Nick Bird, Executive Business Development Manager at Octopus Investments Let’s consider a scenario. Catherine and Linda live on the same street, a few houses apart. Both are widowed and...

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  How ‘the family approach’ can prevent delays to estate planning

  16 April 2021

  Sponsored article An unprecedented number of clients have delayed financial decisions because of the pandemic. But an indirect approach can help turn hesitation into urgency, says Nick Bird, Executive Business Development Manager at Octopus Investments Let’s consider a scenario. Catherine and Linda live on the same street, a few houses apart. Both are widowed and...

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  Financial and tax planning decisions delayed by pandemic

  14 April 2021

  The Covid-19 pandemic has prompted a vast number of clients to delay making financial decisions, a new poll by Octopus Investments has found.   In a survey of 700 advisers, six in 10 (61%) had clients who delayed financial decisions as a result of the pandemic. Communication was cited as a potential cause of...

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  Retired lose 1/6 of annual income to direct taxes

  13 April 2021

  Retired households lose one sixth of their income a year to direct taxes, new research from Key has revealed.  Income tax and council tax take 13.9% off the average retired household’s pre-tax income of £31,674, equating to around £4,078 a year. However, government data showed benefits contribute around two fifths – nearly £13,000 a...

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  Retiring investors have £32,870 income tax-free per year

  12 April 2021

  As the new tax year gets underway, investors entering into retirement can take home at least £32,870 in tax-free income per year, new analysis from Quilter has revealed. The wealth management firm provided a breakdown of the different investments retirees could utilise to maximise their tax-free income before allowances grow increasingly “less favourable” over time....

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  Flexible pension withdrawal rise needs to avoid pitfalls

  8 April 2021

  Flexible pension withdrawals are expected to rise over the coming quarter, putting pension savers at risk of various pitfalls, according to AJ Bell.  In five of the six years since the pension freedoms launched in April 2015, the first three months of the tax year has typically seen the highest volume of flexible withdrawals,...

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  Maximising tax wrapper allowances for children

  7 April 2021

  With some careful timing, there are ways to make to the most of tax wrappers for children. Martin Jones, technical manager at AJ Bell, explains. While many clients will have tightened their belts over the least year or so, there is a significant group who will find themselves with surplus cash given that typical...

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  Capital gains tax on sales of residential property

  6 April 2021

  Capital gains tax is complicated, especially when related to sales of residential property in the UK. Gerry Brown looks at when, how and what to report within the 30-day time limit. What are the capital gains tax reporting rules on sales of property? On 6 April 2020, new rules were introduced on how UK...

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