Category: Tax

ISAs and pensions are the most popular options for people saving for their futures. However, if you are an experienced investor with a significant portfolio of assets, there are other tax-advantaged products which may be appropriate. Known as ‘tax-led investments’, these include Venture Capital Trusts (VCTs) and the Enterprise Investment Scheme (EIS). Tax-led investments offer … Continued

You may be aware that applications for the latest round of pension protections are not expected to be available until sometime in July after the Finance Act 2016 receives Royal Assent. This leaves issues for those who are looking to protect their pension benefits but also wish to take those benefits before they can apply … Continued

More than 150,000 people have bought a home using the Help to Buy Scheme since its launch in 2013. The mortgage guarantee scheme, which allows lenders to buy a guarantee on mortgage loans, has proved popular with first-time buyers. The Treasury reports that 79% of mortgage completions through the mortgage guarantee scheme were people buying … Continued

What is the annual tax on enveloped dwellings? The annual tax on enveloped dwellings (ATED) was introduced as part of a package of measures aimed at making it less attractive to hold high-value UK residential property indirectly, e.g. through a company, in order to avoid or minimise taxes such as stamp duty land tax (SDLT) … Continued

The Telegraph highlights a little-known tax loophole which could mean buy-to-let investors and buyers of second homes are exempt from the higher rates of stamp duty that come into force. For existing property owners to be exempt, they must be buying a main residence rather than a second home or investment property and have previously … Continued

Entrepreneurs’ tax relief has been extended to include long-term investors in unlisted companies. Entrepreneurs’ relief applies to business owners seeking to sell on their business, who are eligible for a preferential tax rate of 10 percent on business gains for up to £10 million. As part of the new ruling, entrepreneurs will be able to … Continued

The government has introduced a range of measures aimed at removing barriers that may be stopping people from being able to access their pensions. In January, the Chancellor announced that he would be giving the Financial Conduct Authority (FCA) the duty to cap excessive early exit charges. FCA data shows that around 16% of customers … Continued

It should be remembered that sensible inheritance tax planning for future generations can make a massive difference over time enabling the preservation of family wealth. £1m inheritance tax allowance per couple? The recent Budgets finally made good on the long standing promise to increase the inheritance tax allowances to £500,000 for an individual or to … Continued

The impending changes to the taxation of dividends for entrepreneurs and small business owners is likely to result in an increase in solvent liquidations over the next few months. If the proposed changes go ahead on 6 April 2016, it will be more expensive for individual shareholders to accumulate and extract surplus cash funds or … Continued

Millions of people in England and Wales face a large rise in fees payable after death, to raise an extra £250m for the courts service. The Ministry of Justice wants an increase in probate fees to as much as £20,000 for those with the biggest estates. At the moment such fees are fixed at either … Continued