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Income 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.

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.
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High income child benefit charge

This article explains how the tax charge works for individuals affected by the high income child benefit charge.

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.

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.
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.

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.
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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.

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