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News items | 01 Mar 2011
Responding to the announcement by the European Insurance and Occupational Pensions Authority (EIOPA) of the second Europe-wide stress test for the insurance sector, Peter Vipond, Director of Financial Regulation and Taxation, at the ABI said
Technical articles | 01 Mar 2011
Background When a chargeable event gain calculation on the final encashment of a single premium bond policy gives rise to a deficiency (ie. a loss), that deficiency can be attributed to income of the policyholder that has suffered higher rate income tax in the same tax year. The amount o...
Technical articles | 01 Feb 2011
1. Background It seems a long time ago now, but 22 June 2010 was the date of the Coalition's first Budget. In the run up to that Budget, there had been considerable speculation over how the new capital gains tax (CGT) rules would apply and, in particular, concern that the rates of CGT ...
Technical articles | 01 Jan 2011
The radical shift in the capital gains tax landscape on 23 June 2010, which increased the headline CGT rate to 28%, has far reaching effects for owner-managers contemplating a future sale of their company. Entrepreneurs' relief (ER) was also considerably enhanced, enabling sellers to obtain...
Technical articles | 01 Jan 2011
February and March are key planning months to maximise the use of an individual's allowances, reliefs and exemptions for the current tax year, especially as some will be lost if not used before the tax year end. Technical Connection's John Woolley provides hints on strategy...
Technical articles | 01 Dec 2010
Given the introduction of a 50% income tax band and the forthcoming increase in the rate of national insurance contributions (NICs), an increasing number of private limited company owners are turning their attention to income splitting as a means of minimising the impact of these increases....
Technical articles | 01 Oct 2010
The Comprehensive Spending Review (CSR) announcement was effectively the second stage of the June Emergency Budget. Budgets traditionally attract more attention, but in this instance the CSR is the more significant element. The context is that total Government expenditure in the current yea...
Technical articles | 01 Oct 2010
Last month we looked at the structure, operation, advantages and disadvantages of Discounted Gift Trusts. This month we turn our attention to Loan Trusts. Also, at the end of this article, we look at the scope for lump sum IHT schemes to be subject to the Disclosure of Tax Avoidance Schemes...
Technical articles | 01 Sep 2010
In this third and last part of a series revising the fundamentals of trusts we look at the discretionary trust and its current place in financial planning.

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