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Individual Taxation

Sterling notes

The 0% rate of tax on Savings Income

The £5,000 nil-rate starting band for savings is available where earned income is less than £16,000 and yet individuals with taxable income greater than this can make use of it.
Couple

Taxation of collectives held directly

This article looks at the taxation of a collective investment when owned directly by a UK resident investor and considers any additional liability which may fall on the investor. Topic:Capital Gains Tax
crockery

30-day Bed and Breakfast rules and CGT

This article explains the capital gains tax rules surrounding the sale and repurchase of the same shares and unit trusts within 30 days. Topic:Capital Gains Tax
Sterling notes

The 0% rate of tax on Savings Income

The £5,000 nil-rate starting band for savings is available where earned income is less than £16,000 and yet individuals with taxable income greater than this can make use of it. Topic:Income Tax
Couple

Taxation of collectives held directly

This article looks at the taxation of a collective investment when owned directly by a UK resident investor and considers any additional liability which may fall on the investor. Topic:Income Tax
girl in garden

High income child benefit charge

This article explains how the tax charge works for individuals affected by the high income child benefit charge. Topic:Income Tax
Brainstorming

My investment is paying dividends – maybe too much!

From 6th April 2018 the dividend allowance will reduce to £2,000. Some of those impacted will be investors and there is an opportunity for some simple planning in this area to avoid some unnecessary tax. Topic:Income Tax
Analysis

Dividend taxation for investors

Since April 2016 dividends received by an investor have been considered gross following the abolition of the 10% tax credit. Individuals now have a £5,000 dividend allowance, this article demonstrates how the band works. Topic:Income Tax
presentation

CGT a summary of how the tax applies

This article sets out the main rules relating to capital gains tax (CGT). Topic:Capital Gains Tax
Child money

Finance bill (no.2) 2017 – items removed

The decision to hold a general election on 8 June 2017 has resulted in a number of items being removed from the Finance Bill (No.2) 2017. This article lists some of the key items which have been removed.
Group of people

HMRC to recalculate wholly disproportionate gains on part surrenders and part assignments

This article provides an overview of the new application process introduced in the Finance Bill 2017 which a policyholder must follow to have their gains on a part surrender or a part assignment recalculated by HMRC. Topic:Income Tax
Key barriers

Government looks to ‘shut down’ IHT advantages of offshore structures holding UK property

The UK Treasury has issued a consultation paper outlining changes to the IHT treatment of UK property held within offshore structures on Friday 19 August. Legislation implementing the change will come into effect from 6 April 2017.
Couple signing forms

Bond tax for an investor returning to the UK

The taxation issues related to an individual who is or is likely to become a UK resident and who owns a Personal Portfolio Bond.
Mind the housing gap

Buy to let investing even riskier

UK Summer budget makes buy to let riskier.
euros

Savings and dividend taxation bands and allowances

Previously we have written articles covering the new taxation rules surrounding savings income and dividends. Here we provide a series of scenarios to show how these interact with an individual’s personal allowance and tax rates. Topic:Income Tax
notes

CGT – share identification and section 104 holdings

Asset disposal: holding a fund direct as well as via a collective such as Old Mutual Wealth's Collective Investment Account may mean the gain or loss realised is more or less than expected. Section 104 holdings drags older gains into charge quicker. Topic:Capital Gains Tax
messy desk

Capital withdrawal planning tool

This financial planning tool calculates the capital gain on a given withdrawal from an investment, and the amount of withdrawal which can be made when utilising an individual or trustee’s CGT exemption. Topic:Capital Gains Tax
red bus

Remittance to the UK – a taxing decision

This article summarises the key points for international advisers when deciding whether to use the remittance basis of taxation. Topic:Income Tax
glasses and pen

Taxing Share Class Conversions

The Collective Investment Schemes (Tax Transparent Funds, Exchanges, Merges and Schemes of Reconstruction) Regulations 2013 still needs clarification regarding equalisation. Topic:Capital Gains Tax

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