What’s next for overseas investors in UK property?
As of 6 April 2015, non-UK residents will no longer benefit from attractive tax advantages when they invest in the UK residential property market.
IHT
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UK election result puts IHT and pension tax in spotlight
The surprise majority victory by the Conservative Party in the UK general election could mean changes to inheritance tax rules and tax relief on pensions are more likely, though initially for most financial advisers the outcome simply means business as usual.
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Platform One to offer expat-friendly AIM IHT service
Platform One and Stellar Asset Management have partnered to offer the “first” AIM inheritance tax service available on a UK platform.
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British IHT bills likely to average over 130K
UK families are facing average inheritance tax bills of up to £130K; according to research from Canada Life International; highlighting the need for more planning to reduce the liability.
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Inheritance tax reform promised in UK election battle
Britain’s Conservative Party has vowed to reform inheritance taxes in a bid to counter the Labour Party’s promise to abolish the ‘non-domicile’ regime as the UK election campaign heats up.
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HMRC likely to review QROPS
HM Revenue & Customs is likely to address doubts surrounding the IHT-exemption of fully-flexible QROPS with a wide review into how overseas pensions are taxed, say industry experts.
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Fully flexible QROPS to lose IHT-exemption
QROPS which embrace HMRCs full flexibility proposals will not qualify for inheritance tax-exemption because of an omission by the Revenue, a leading provider of the schemes has said.
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Government announces IHT U-turn
The UK government has today announced a “U-turn” on plans to introduce a single settlement nil rate band on trusts.
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Govt continues tax crackdown
George Osborne has used this year’s Autumn Statement to announce a further hardening of the UK Government’s stance against offshore tax evasion, with a particular focus on tax avoidance promoters, and, for the first time, inheritance tax (IHT).
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Non doms urged to protect assets in case
Old Mutual Wealth is urging advisers with non-domiciled clients in the UK to take steps to protect their assets from IHT, in case changes to the domicile rules come into effect.
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Experts cameron aim to shoehorn IHT nil rate hike
UK prime minister David Cameron has raised the prospect of increasing the nil rate band for inheritance tax in the government’s final Budget before the next general election, which has been welcomed by international life industry tax experts.
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HMRC denies plans to charge IHT before death
HM Revenue & Customs has denied claims it plans to collect IHT from an estate before the individual has died.