TAXATION OF UK TRUSTS/UK TRUST TAXATION Synopsis: HMRC have confirmed the rate of tax which will apply to dividends falling within a trust’s standard rate band. In our earlier Bulletin we stated that, in the absence of any draft Finance Bill clause information, HMRC had confirmed that the dividend rate of tax for trusts would be 38.1% […]
AUTOMATIC ENROLMENT Synopsis: As a result of on-going testing and contingency planning an emergency pause facility has been put in place. The National Audit Office has published a report which says that as a last resort an ’emergency pause’ procedure has been put in place that can apply if automatic enrolment is unable to cope […]
TRANSITIONAL PROTECTION Synopsis: Detailed provision for Fixed & Individual Protection published. In line with the publication of the draft clauses of the Finance Bill 2016 the government has published detailed provision on the reduction of the Lifetime Allowance and the 2 new layers of transitional protection. The reduction in the lifetime allowance affects those who could have pension wealth […]
This flow chart helps you work out out what is likely to happen to your wealth upon death without a will. Opus Gold finance currently have a limited offer: If you decide to use our services to set up Auto Enrolment we are also offering a low cost professional will writing service for you and […]
Workplace Pensions AKA Auto Enrolment is the finance industries hot topic for 2016. You may have seen the TV and print adds (featuring a rather cute furry monster – shown below) and employers should have also had a letter from The Pensions Regulator (TPR) about the employer duties too. Not sure what to do next, […]
Please find attached the latest quarterly fund fact sheets on the Default investment option (up to 85% shares) and the other pension fund options within the scheme. Peoples Pension Fund Fact Sheet Cash Fund Peoples Pension Fund Fact Sheet Ethical Fund Peoples Pension Fund Fact Sheet Pre Retirement Fund Peoples Pension Fund Fact Sheet Shariar […]
Contents Income Tax Tax Credits Capital Gains Tax (CGT) Inheritance Tax (IHT) Pensions ISA’s Property Tax Stamp Duty Land Tax (SDLT) Childcare 1 Income Tax Personal allowance and Tax bands No change was announced to the levels of Personal Allowances and tax bands that will apply from 2016/17. It had previously been announced […]
Client category: Estate planner Family disputes on the rise The number of family financial disputes that reach the courts is rising, says the Financial Times. An expert explains that one reason is the rising value of people’s assets. The typical cost of a court case over a will is £60,000, and rising property values means […]
TRUSTEE FORMS AND REPORTING REQUIREMENTS Trustees have a number of duties to fulfil which include the need to satisfy certain compliance and reporting requirements during the duration of the trust. This article looks at trustee reporting requirements in light of what documentation needs to be completed and submitted to HMRC or given to a beneficiary. […]
Individual savings accounts (ISAs) Proposals made in the Budget Help to Buy: ISA To help as many people as possible realise their aspirations of home ownership, the Help to Buy: ISA was announced at Budget 2015. This supports people saving up for their first home by providing them with a maximum government bonus of £3,000 […]
