Personal tax

Technical
1 April 2017

LITRG comments on issues that keep arising with marriage allowance claims

Technical
1 April 2017

LITRG raised concerns about the possible impacts of the planned reduction in the pension money purchase annual allowance (MPAA)

Technical
1 April 2017

LITRG commented on the ongoing consultation on the government’s proposal to form a single financial guidance body.

Technical
1 April 2017

The CIOT responds to the second tranche of legislation and HMRC issues clarification in some areas.

Technical
1 April 2017

Finance Bill 2017 consultative clause 13 provides a discretionary remedy for ‘wholly disproportionate’ gains but the CIOT and LITRG have some concerns.

Technical
1 March 2017

The Financial Conduct Authority (FCA) have consulted on handbook changes relating to the Lifetime ISA. LITRG’s response points out that tax complexities need to be considered by advisers.

Technical
1 March 2017

The CIOT considers the first tranche of the FB 2017 clauses implementing the non-dom reform package.

Technical

Responses by LITRG and ATT on the new trading and property allowances available from 6 April 2017 highlight the need for clear guidance, the difference in treatment of trading income for tax and universal credit purposes and several detailed practical issues.

Technical
1 March 2017

CIOT continues to seek to ensure that the anti-avoidance rules within Business Investment Relief do not discourage the take up of the relief.

Technical
1 March 2017

From 6 April 2017, 100% of foreign pension income is to be subject to UK income tax, abolishing the ‘90% rule’ (or 10% deduction). The period of an individual’s non-UK residence during which UK tax charges can apply to payments out of pension savings in overseas pension schemes that have had UK tax relief is extended from 5 to 10 years. In addition, the UK tax treatment of non-UK registered pension schemes will be aligned with UK registered schemes and lump sums paid under foreign pension schemes to or in respect of UK residents will be brought into charge for UK tax purposes. LITRG and the CIOT have responded to the draft legislation.