Latest Tax News

Lawyers irked by EU anti-crime measure
Setting up a trust for your beneficiaries has never been straightforward. But it is about to become even more complicated ? and possibly more expensive ? thanks to European Union rules which come into force later this year.

There really is no such thing as a free gift
Calculating how much tax is due on your income and investments is tricky enough. But this year taxpayers are also having to cast their minds back to assets they have already disposed of, as new rules mean these may also be liable for tax charges.

Fears over Revenue's backlog of tax returns
You need to file by the end of January to avoid a penalty, but don't be surprised if you still get a reminder from the taxman

Advisers fumble for ways out of the blind alleys
2006 was probably best characterised by government U-turns. But there were other developments too. New entrants into savings have shaken up the market with market-beating savings accounts. Growing numbers of fund managers have been making use of new rules, enabling them to bring retail hedge funds to the high street. And in the mortgage market, lenders have become even more generous.

We are find a tax haven
City workers are likely to be rubbing their hands in glee as another hefty bonus season approaches. But recipients should prepare for an uphill battle with the taxman.

Hopes of change persist despite Strasbourg ruling
Calls for a change in the law on inheritance tax were renewed this week after two sisters lost their human rights challenge to the current rules.

Exemption from stamp duty seen as token gesture
The chancellor's move to exempt new "zero-carbon" homes from stamp duty may have struck a chord among green campaigners but it has done relatively little to help homebuyers.

Inheritance tax U-turn hits new wave of Sipp investors
Pension investors who wish to hand over pension assets to heirs will be forced to rethink their strategy following draconian proposals outlined in this week's pre-Budget report (PBR).

High earners find April is the kindest month
The new A-Day pension rules have opened up an opportunity for high earners to make tax savings by linking up the efficiencies of venture capital trusts with self-invested personal pensions.

Isa holders given freedom to switch cash into equities
Savers who have built up billions of pounds in cash individual savings accounts (Isas) are set to be given new freedoms to switch their money into higher-risk stocks and shares Isas without losing their tax benefits.

Even a dream island is not always 'home' for wealthy
Glance at the list of the richest people in the UK and you will spot a trend. Many of the most prominent British millionaires and billionaires, such as Roman Abramovich or Lakshmi Mittal, were either not born here or do not spend much time in the country.

Court ruling says the days of tax exiles are numbered
Accountants are reviewing the advice they give to tax exiles on how best to achieve the tax perks of UK "non domiciled" status in the wake of a groundbreaking court ruling this week.

A hands off approach to absolute returns
Investors who want exposure to spread bets and CFDs but do not want to shoulder the responsibility for the investment decisions can hand over their money to investment managers.

Treasury may heed calls to raise Isa investing limit
Investors saving through Individual Savings Accounts (Isas) would be able to put in much larger sums of money than presently allowed, if industry proposals are taken up by the Treasury.

Treasury signals 'all change' on annuity rule
The death knell of using pensions as inheritance tax shelters was sounded this week when Ed Balls, economic secretary to the Treasury, confirmed that a rule change will be announced in this year's pre-Budget report.

From The Financial Times

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