A blog about tax planning strategies and ideas.
On the 6th April 2024 the Lifetime Allowance regime for pensions ended and was replaced by three new allowances – the lump sum allowance, the lump sum and death benefit allowance, and the overseas transfer allowance. This post today is going to focus on the lump sum allowance as some of you will need to […]
Urgent action – have you drawn a pension? Read More »
When Jeremy Hunt stood up in Parliament on 6th March 2024 to deliver his Budget he made some changes to Child Benefit, and specifically the High-Income Child Benefit Charge. Campaigners had long argued for change given the unfairness as to how this was applied, and Hunt announced plans to reform the Charge even further. However, due
The most flexible form of inheritancce tax planning, is a one-off time bound opportunity that you can’t control but can prepare for.
The best kept tax secret Read More »
So here we go, as predicted in our previous blog here, the tax rises are coming. The first one looks likely to be Capital Gains Tax (CGT) with this letter from the chancellor Rishi Sunak to the Office for Tax Simplification firing the starting pistol. His request is for them to look at several aspects
In short, if you are reading this, it is probably you. The Office for Budget responsibility is maintaining a spreadsheet here of the direct costs of Covid-19. The sheet is incomplete and is already at £104 billion of additional costs to the Treasury, mainly at the moment made up of direct support to business (largely
Who pays for SARS-CoV-2? Read More »
The Office for Tax Simplification released a report into inheritance tax earlier this month and it contained some good proposals and raised some interesting talking points for anyone working on avoidance inheritance tax (IHT). The OTS has its job cut out with the complexities of the UK tax system as successive Chancellors have preferred headline-grabbing
At Altor we like to avoid the obvious conclusion, our own confirmation bias and challenge our own thinking. So we thought we would start laying out the counter-point to some of the most widely held views (including our own) in financial services, that inheritance tax is a bad thing. Clive Cowdrey the very successful businessman
In defence of Inheritance Tax Read More »
