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Your Business: Tax Planning

AXA calls for consultation on Sipp and GPP charges

by William Robins on May 23, 2012 at 07:47

AXA Wealth has called for a consultation on clarifying defined contribution pension charges to be extended to group personal pensions and Sipps.

Beecroft report: cut micro employers from auto-enrolment plans

by Daniel Grote on May 22, 2012 at 10:40

The government-commissioned Beecroft report has called for micro employers to be excluded from auto-enrolment, arguing that including them would lead to dispropotionate costs and lead only to 'marginal at best' benefits for employees.

Gov’t urged to introduce single rate 30% income tax and scrap IHT

by Alex Steger on May 22, 2012 at 08:21

The government has been urged to introduce a single 30% rate of income tax and abolish national insurance, stamp duty, and inheritance tax, by a joint project between the Institute of Directors and the Tax Payers Alliance.

Pension savings hit all-time low

by Daniel Grote on May 21, 2012 at 10:31

UK pension savings have hit an all-time low, with only 46% of people putting away enough for their retirement, according to a Scottish Widows survey of more than 5,000 savers.

How to avoid the tax pitfalls of adviser charging

by Matthew Stephens on May 17, 2012 at 11:09

Liability for the payment of adviser charges is about to shift and advisers must get to grips with what tax implications this will have so they can help clients make the right investment choices, writes Matthew Stephens.

HMRC faces top brass exodus

by William Robins on May 17, 2012 at 10:13

HM Revenue & Customs is set to be hit by a wave of exits this summer with four of its top five tax collectors due to leave.

Tenon culls tax products after Budget clampdown

by Daniel Grote on May 17, 2012 at 08:04

Troubled financial services group RSM Tenon has announced it will not offer new products through its specialist tax arm following the announcement of the anti-abuse rule in the Budget.

HMRC figures reveal poor take up of fixed protection

by William Robins on May 14, 2012 at 11:36

Only a fraction of savers qualifying for fixed protection have claimed the pensions tax break, a Freedom of Information (FOI) request has revealed.

Skandia says HMRC may shift stance on VAT on DFMs

by Michelle Abrego on May 14, 2012 at 11:23

A recent European court ruling on the VAT treatment of Discretionary Fund Management portfolios could lead to HM Revenue & Customs reassessing the tax treatment of DFMs, according to Skandia Investment Group.

Why settle a property on trust?

by Shimon Shaw on May 14, 2012 at 08:52

A trust can be a perfect vehicle for buying a property for family members but alternatives may be more tax efficient and flexible, and advisers should carefully weigh up the pros and cons, writes Shimon Shaw.

FSA clamps down on adviser over pension transfer failings

by Daniel Grote on May 11, 2012 at 12:29

The Financial Services Authority has prohibited adviser Stuart Unwin from holding significant influence functions due to pension transfer failings.

How an EIS can cast off seasonal woes

by Richard Hargreaves on May 11, 2012 at 11:28

The lifting of restrictions on carry back for EIS investments has made this underused tax planning device even more attractive if used wisely, writes Richard Hargreaves (pictured).

HMRC hints at further Qrops clampdown

by William Robins on May 11, 2012 at 11:01

The global Qrops industry could be turned on its head after HM Revenue & Customs has declared the pension schemes to be suitable for migrant workers only.

Royal London hit by 10% drop in life and pensions sales

by Jun Merrett on May 10, 2012 at 07:57

Royal London has reported a 10% drop in new life and pensions business in the first three months of the year as market conditions took their toll.

HMRC rubber-stamps ban of Guernsey's new Qrops regime

by William Robins on May 09, 2012 at 13:46

HMRC has explicity ruled-out Guernsey's 157 E pensions regime designed to bypass changes to the way non-residents are taxed.

How to put your PIPs in order

by Fiona Tait on May 09, 2012 at 10:46

Maximising a client’s tax relief in a single tax year can be complicated if they have more than one pension plan with differing pension input periods. Fiona Tait explains how to do it.

European court ruling deals VAT blow to DFMs

by William Robins on May 08, 2012 at 13:19

The European Court of Justice has recommended that all elements of discretionary fund management services should be subject to VAT.

Aspiring Bank of England boss wants 48p top tax rate

by David Sandham on May 04, 2012 at 08:02

Lord O’Donnell of Clapham, who wants to become the next governor of the Bank of England, has suggested that 48p in the pound is the optimal top rate of tax.

Guernsey Qrops providers flock to Malta after HMRC clampdown

by William Robins on May 02, 2012 at 08:05

Guernsey-based qualifying recognised overseas pensions scheme providers are moving to Malta to set up new schemes, throwing a lifeline to clients left stranded by a recent HM Revenue & Customs clampdown.

One million dragged into higher rate tax after Budget changes

by Daniel Grote on May 02, 2012 at 08:01

Nearly one million more people have been dragged into the higher rate tax band following changes to thresholds in the Budget, according to figures published by the tax office.

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