Over 1 million Brits to be dragged into higher tax bands by 2027
Clients encouraged to make more efficient use of allowances
Rachael Griffin
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UK government scraps Autumn budget amid covid-19
‘At the moment, it would be extremely challenging to make long-term policy decisions’
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Tax avoidance products ‘in decline’ across the UK
But taxman’s clampdown could see legitimate planning hit as ‘collateral damage’
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If IHT was cut to 10% – what would it mean for advisers?
Rumours UK chancellor could also introduce a £30,000 cap on gifts in inheritance game changer
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Trust planning a blind spot for international advisers
They have a reputation of being ‘complicated and difficult to set up’
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IFAs must tackle taboo topics to help clients and themselves
UK advisers need to shake off their discomfort and bring up uncomfortable subjects – like inheritance
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Budget 2018: predictions, hopes and fears
With the Budget only a few days away, industry experts share their views on what to expect
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Could Dodd’s marriage trigger an IHT review?
The marriage of late comedian Ken Dodd to his long-term partner, and the fact that HM Revenue & Customs lost out on nearly £3m ($4.2m, €3.4m) as a result, has prompted questions about the timing of financial planning, especially so-called “deathbed planning”.
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What does fairer, simpler, more transparent trust taxation mean?
With the budget lacking much detail, the financial services industry has been left to ponder what the chancellor actually meant when he said the government will publish a consultation in 2018 on how to make the taxation of trusts simpler, fairer, and more transparent.
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Offshore trusts hit by fresh anti-avoidance measures
Anti-avoidance measures targeting the tax treatment of payments and benefits from offshore trusts will make the use of such vehicles less appealing, says FPI’s Brendan Harper.
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No safety net for life policy part surrenders
HM Revenue & Customs will be able to review “disproportionate” tax bills slapped on people who withdraw money from their life policies but “it is crucial that this isn’t seen as a safety net”, warns Old Mutual Wealth tax and financial planning expert Rachael Griffin.
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Qrops market suffers big hit, further falls expected
The number of Qrops transfers in the last financial year dropped to the lowest level since 2010/11 and is expected to fall further on the back of the UK Government’s 25% charge, as the amount of money accessed via the pensions freedoms hits a record high.