Tax Planning

Pension tax relief reform plans put forward by the major political parties smack of short-term ad hoc thinking which the UK could "come to regret", a think tank has said.

A clampdown on suspected tax avoidance among taxpayers with rapidly rising wealth has netted HMRC an extra £11.5m since it began targeting the group in 2012, according to calculations.

There has been a sharp rise in demand for financial advice over the past 12 months, according to accountants, who claimed people have become more aware of pensions and inheritance tax planning.

Transact has partnered with Octopus Investments to become the first platform to offer venture capital trusts (VCTs) following the introduction of new legislation.

Regardless of who is in power after the general election, higher earners are going to see their pension contributions taxed more heavily, according to analysis.

The British Chambers of Commerce (BCC) has accused political party leaders of making "lazy assumptions" and relying on "populist statements, not economic common sense" in their campaigning.

Our weekly heads-up on what your clients may have read in the nationals at the weekend...

The Conservative party has promised a range of cuts if it wins power in the general election in May.

Assessing the Tory IHT/pension tax relief pledge

TISA, the British Bankers Association (BBA) and the British Societies Association (BSA) have published guidelines explaining how ISAs can be passed on tax free upon death.