December 20, 2018Trust taxation consultation
Summary of the key issues identified in the consultation on trust taxation On 7 November, after a long wait since its coming was announced in the Autumn Budget of 2017, the consultation “The Taxation of Trusts: A review” was published. The consultation has the overriding objective of seeking to make the taxation of trusts simpler, […]
November 16, 2018An Equerry update on taxing gains made by non-UK residents on UK immovable property
The Government has now confirmed that from April 2019 non-UK residents will be subject to tax on disposals of all UK property. Currently non-UK residents are only taxable on disposals of UK residential property. All non-UK resident persons’ gains on direct disposals of UK land will be chargeable. The rate of tax will be the […]
October 27, 2018Drawdown Pension
Why you need to know In order to understand the income withdrawal options regarding pensions. What you need to know An individual is able to take income withdrawals from any money purchase pension arrangement, provided the scheme rules permit such a benefit to be taken. Since 6 April 2015 withdrawals have been available through “flexi-access […]
A recent client query has reminded Equerry Investment Management just how complicated things can get when a non-taxpayer, with relatively low amounts of income from a variety of sources, makes a large chargeable event gain on an offshore bond. So, for your information, here is a reminder of the rules. Offshore bond gains are taxed […]
September 13, 2018Student Loans – is it a case of smoke and mirrors?
Student loans are a slippery subject. The problem starts with the word “loan”, which is near enough a half-truth. The latest estimates suggest that about 45% of outstanding student debt (original loan plus accumulated interest) will eventually be written off. How the Treasury accounts for student loans and interest has been the subject of a paper from the Office […]
August 17, 2018Tax effects on death of a Spouse or Civil Partner
Introduction Bereavement is a difficult time, particularly when this involves the death of a spouse or civil partner. There is often a plethora of arrangements to be made, including the management of the person’s financial affairs. Ensuring that tax payments and allowances have been considered is an area which can sometimes be forgotten at this […]
Equerry Investment Management endeavour to keep an eye on global news that could potentially have an impact on the UK and ultimately our client’s investment interests. With Donald Trump visiting the UK this week, our Branch Principal, Andrew Coveney, has taken note of a MoneyWeek article, published in their 5th July 2018 edition. Here, MoneyWeek […]
25% of UK parents regret not saving earlier for their child’s education and 20% say they wish they had saved more, according to new data. It seems that more than 70% of parents contribute towards the cost of their child’s education, at a “rich mix” of fee-paying schools, colleges or university. Despite this, less than […]
June 6, 2018May 2018 Employment Report
Please click here to see the Raymond James Economic Research May 2018 Employment Report.
Background The Lifetime Allowance (LA) is designed to limit the total pension savings an individual can accumulate tax-efficiently. Accumulated benefits in excess of the LA are taxed at rates which largely remove the tax benefits. A LA test has to be undertaken every time there is a Benefit Crystallisation Event (BCE). The following information is […]