Our News

178 – HMRC – The Ultra rich and the not so rich

Parliament’s Public Accounts Committee thinks that the “government must take a tougher stance on taxing the very wealthy.” In 2009, HM Revenue & Customs (HMRC) set a specialist team to focus on the tax affairs of high net worth individuals (HNWIs is the jargon). At the time, HNWIs were defined as people with net assets…

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The Residence nil rate band – A real head scratcher

From April, the residence nil rate band comes into being. It was nearly two years ago that the Conservatives’ manifesto for the 2015 election promised to “take the family home out of tax by increasing the effective Inheritance Tax threshold for married couples and civil partners to £1 million.” The legislation which starts the first…

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171 – Interest rates in 2017

On 15 December, the US Federal Reserve (Fed) raised its key short term interest rate by 0.25%, to a range between 0.5% and 0.75%. It had made the same increase 12 months previously. When the Christmas 2015 rate rise occurred, the central bank was implicitly expecting to raise rates four times during 2016. However, a…

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169 – Govt U-Turn on Annuity Sales

The Treasury has changed its mind about allowing the sale of pension annuities. When pensions flexibility was announced in March 2014, one of the inevitable criticisms was that the reform came too late for those who had already turned their pension pot into an annuity. A year later the then Chancellor attempted to respond to…

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167 – Marmite Wars

Inflation rose to 1% in September, but that will not be the end of the story. Last month a spat between Tesco and Unilever over the pricing of products under a new contract saw Marmite temporarily removed from the shelves of Tesco’s internet shopping website. The two parties resolved the issue quickly once it hit…

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166 – Age related pension tax relief?

The pre-Autumn Statement rumour mill is suggesting a radical reform of pension contribution tax relief. Could tax relief for pension contributions be based on your age rather than the rate of income tax you pay? It may sound strange, but one idea doing the rounds is that tax relief on pension contributions should become a…

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165 – State Pension Age

The government has published an independent review on the state pension system. There was a time when it was all so simple: men drew their state pension from age 65 and women from age 60. That all started to change in the mid-1990s, when the Pensions Act 1995 set in train a phased increase in…

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164 – Quarter 3 review

The third quarter of 2016 was not the meltdown it threatened to be after the referendum. The final days of the second quarter of 2016 were dominated by the fall-out from the outcome of the referendum on 23 June. It was, to put it mildly, a volatile time for investment markets. However, for all the…

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165 – Trump…..

2016 has certainly been a year of surprises with this morning just adding to the long list which includes Brexit, new prime ministers, Leicester City winning the Premiership...... Equity markets are selling off across the world as each one opens and bonds are rallying along with gold, in a nutshell its risk off; big style.…

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162 – Date set for Autumn statement

The Treasury has confirmed that the Autumn Statement will be on 23 November. When George Osborne was replaced as Chancellor in July, his successor, Philip Hammond, deliberately avoided taking any action. He left the immediate economic response to Mark Carney and the Monetary Policy Committee at the Bank of England, which duly cut interest rates…

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