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Latest - TAX AND TRUSTS

  • Threat to lifetime allowance protection on scheme buy-out

    24 January 2021

    A flaw in rules could lead to the loss of lifetime allowance protection on scheme buy-out. Charlene Young, senior technical consultant at AJ Bell explains According to recent correspondence, HMRC has taken the view that pension scheme buy-outs do not constitute “permitted transfers”. This has important implications for a small number of clients whose...

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  • ISAs and inheritance tax

    24 January 2021

    Sponsored article Having the right kind of investments within this popular investment wrapper can help significantly reduce inheritance tax. Investors love ISAs, but sometimes they can fall into a trap of believing they are completely tax-free, even when it comes to inheritance tax. Many investors think that because they’ve benefited from tax-free growth and...

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  • Top tips when it comes to Business Property Relief cases

    12 January 2021

    Sponsored article. For professional advisers and paraplanners only. Not to be relied upon by retail investors. Octopus sat down with the Mark Greenwood, Director of Compliance Services at SimplyBiz, to discuss recommending inheritance tax-efficient investments. If you’re new to the world of investments that qualify for Business Property Relief (BPR), what are some practical...

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  • Albion Capital opens VCTs to top-up funding

    7 January 2021

    Albion Capital is looking to raise up to £45 million through top up offers for five of its venture capital trusts. The fundraising targets the following amounts across the Albion VCT range: Albion Technology & General VCT PLC    £14m Kings Arms Yard VCT PLC           £12m Albion Development VCT PLC    £7m Albion Enterprise VCT PLC        ...

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  • Paraplanning and Capital Gains Tax: The outlook for 2021

    3 January 2021

    Paraplanners may have to adapt to a new Capital Gains Tax regime in 2021, and explain it to clients. Gerry Brown looks at the implications of the recent report from the Office of Tax Simplification and the questions it’s raised. In November 2020 the Office of Tax Simplification (OTS) published the first part of...

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  • There’s more to estate planning than gifting

    20 December 2020

    Sponsored article Making lifetime gifts to plan for inheritance tax is permanent and irreversible, but it’s not the only way, says Jessica Franks, Head of Tax, Octopus Investments If you’ve helped a client plan for inheritance tax, as many of you will have, then you’ll recognise the typical reluctance from clients to give away wealth...

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  • Novia adds “What if” scenarios to Capital Gains Calculator

    20 December 2020

    Novia has enhanced the user experience and added functionality to its Capital Gains Calculator.  The new functionality enables the paraplanners and advisers to model a range of ‘what if’ scenarios, to assist their clients with managing their tax liabilities. The scenarios can include a client’s current CGT allowances, losses from previous years, realised gains...

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  • The future of inheritance (tax)

    16 December 2020

    The idea of inheritance is changing, sparked by issues such as the high cost of house purchase and the impact emotionally and financially of the Coronavirus crisis, suggests Mark Wintle, inheritance tax specialist, WAY Investment Services, The pandemic of 2020 has led to a fundamental rethink in many aspects of our lives. The concepts...

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