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Personal Finance Society
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Technical articles | 01 Feb 2008
In January 2008, HMRC published draft legislation and explanatory notes on the new tax treatment of nondomiciles announced in the pre-Budget report. Those who struggled through the detail found that it would potentially have retrospective effect, threatening to tax income and gains realised...
Technical articles | 01 May 2007
After months of rumour, HMRC has announced how it intends to handle people wanting to come clean on offshore accounts. The main concession is a limit on the penalty that will be applied to 10% of the outstanding tax. Outside the "amnesty", there is a somewhat theoretical maximum penalty of ...
Technical articles | 01 Apr 2007
The tax year 2009/10 will see the alignment of upper earnings limit (UEL) and the higher rate tax threshold. For some employees the effect will be to produce a marginal tax rate of 51%. This will happen because their PAYE code may be less than the full personal allowance, for example becaus...
Technical articles | 01 Feb 2007
One of the murkier aspects of private sector defined benefit (DB) schemes in recent times has been the use of financial inducements to encourage members to transfer out. HMRC used to accept that in certain circumstances such payments could be free of tax and NICs. HMRC issued an announcemen...
Technical articles | 01 Sep 2006
The well-publicised inheritance tax (IHT) and capital gains tax (CGT) changes to trust taxation in schedule 20 of the Finance Act 2006 have a substantial impact on the products used by our profession. This is a brief note of some of the areas to be considered.
News items | 01 Jul 2006
On 6 April 2006, a new tax regime was applied to all pension schemes. The old system with its several different sets of rules applicable to different schemes was replaced with one unified approach. Pensions professionals need to be aware of some key issues.
Technical articles | 01 May 2006
Richard Mattison outlines the tax changes that impact on pension investments.  The Finance Bill has introduced final regulations covering pension scheme investment in retail property and chattels (art, antiques, stamps, vintage cars etc), which were to be permitted as direct investment...
Lectures | 01 Jan 2006
Inheritance tax mitigation. Lecture delivered by John Liddington & Charles Hutton (Speechly Bircham) on 19 January 2006.
Technical articles | 01 Sep 2005
A recent case before the special commissioners may make you rethink your understanding of UK tax residence.

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