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Standard Life: Govt tax avoidance clampdown will hit mainstream IHT trusts

14 August 2014 6:01 pm

Proposed changes by HMRC to the tax disclosure regime are a cause for concern.

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HMRC recoups £29m in tax avoidance crackdown

15 December 2014 11:36 am | By Devraj Ray

Finance Bill 2014 gives HMRC powers to demand disputed tax repayments within 90 days from tax avoidance scheme users.

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Pensioner bonds to pay up to 4%

12 December 2014 4:38 pm | By Sam Brodbeck

One-year bonds to pay 2.8 per cent while three-year bonds will pay 4 per cent.

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MetLife UK plans 2015 guaranteed Isa launch

11 December 2014 10:00 am | By Sam Brodbeck

Customers will be able to choose capital or income guarantee.

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Industry backs Govt decision on post-75 pensions tax relief

11 December 2014 | By Sam Brodbeck

The Government has dropped plans to extend tax relief to pension contributions made by people over the age of 75.

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Experts query Govt pension recycling tax leak estimate

4 December 2014 10:44 am | By Sam Brodbeck

Confusion reigns over Treasury projections.

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Chancellor extends death tax reforms to annuities

4 December 2014 | By Sam Brodbeck

Widowers will no longer have to pay income tax on joint-life annuity payments under proposals widely expected to be unveiled by Chancellor George Osborne this week.

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AS 2014: Treasury reveals £730m cost of pensions death tax cut

3 December 2014 3:03 pm | By Sam Brodbeck

But expected growth in public sector transfer set to offset tax loss, Government estimates.

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Osborne set to scrap death tax on joint-life annuities

28 November 2014 8:52 am | By Sam Brodbeck

Move would bring annuities in back into line with drawdown.

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What will Scottish devolution mean for pensions tax relief?

27 November 2014 3:12 pm | By Tom Selby

Proposals to hand the Scottish Parliament autonomy over setting income tax rates could have significant ramifications for pensions tax relief.

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Treasury waters down HMRC powers to raid bank accounts

27 November 2014 | By Samuel Dale

Treasury concedes ground after criticism from MPs over scope of powers.

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HMRC moves to close pension lump sum recycling loophole

25 November 2014 2:32 pm | By Sam Brodbeck

HMRC has confirmed ‘stand-alone’ pension lump sums will not be subject to the restricted money purchase annual allowance rules imposed on savers who access the Budget freedoms.

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Labour pledges 'tough' penalties for tax avoidance

14 November 2014 8:35 am | By Natalie Holt

Party wants to impose fines of up to 100 per cent of the value of tax avoided.

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The Technical Quiz: 13 November

13 November 2014

To help you to keep up with the fundamentals of tax, retirement and financial planning, try answering these questions…

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Govt launches 'revolution in tax transparency'

3 November 2014 10:12 am | By Sam Brodbeck

But Labour says annual tax statements mask full impact of taxes.

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Labour raises pressure on Govt over £2bn pensions tax leakage

29 October 2014 3:58 pm | By Sam Brodbeck

MPs ‘profoundly worried’ about potential missing £2bn from Treasury coffers.

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Experts pour cold water on proposal to scrap NICs

17 October 2014 2:00 pm | By Sam Brodbeck

A think-tank’s proposal to combine National Insurance and income tax is laudable but likely to be thwarted by lack of political will.

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PruProtect eyes whole of life LTC launch

2 October 2014 2:00 pm | By Devraj Ray

Money Marketing understands PruProtect will launch the new product next month, with Ageas UK set to follow in February 2015.

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Conservatives pledge to raise 40p income tax threshold to £50k

1 October 2014 2:00 pm | By Sam Brodbeck

A Conservative government would raise the threshold for the 40 per cent income tax rate to £50,000, up from its current level of £41,900.

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Osborne to cut 55% pensions 'death tax'

29 September 2014 8:18 am | By Samuel Dale

Chancellor will abolish tax that applied to untouched DC pension pots left by those aged 75 or over.

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Accountants cleared over £1m charity relief tax scheme

15 September 2014 3:41 pm | By Tessa Norman

Montpelier Tax Consultants chief executive cleared over tax relief scheme. 

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Liberal Democrats set out pensions tax relief reform plans

8 September 2014 2:12 pm | By Steve Tolley

Party pledges to launch review on implications of introducing single rate of relief set above 20 per cent

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MPs warn HMRC IT shake-up risks 'disaster'

27 August 2014 3:31 pm | By Steve Tolley

Senior MPs warn over plans to break up super computer into as many as 100 parts.

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Govt to toughen up on offshore tax evasion

20 August 2014 11:10 am | By Michael Glenister

Government plans to introduce new criminal offence for failure to declare offshore tax arrangements.

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Standard Life: Govt IHT disclosure plans will hit advisers

13 August 2014 10:12 am | By Steve Tolley

Insurer says disclosure rules must take into account trusts that are mainly used for asset control, not avoidance.

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Govt plans IHT trusts crackdown

11 August 2014 8:37 am | By Tom Selby

Government ministers have drawn up plans to clamp down on savers using IHT trusts to reduce their tax burden, The Daily Telegraph reports.

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SJP profits down as FSCS levy hits distribution arm

29 July 2014 8:47 am | By Tom Selby

St James’s Place has reported an 8.5 per cent drop in pre-tax profits, from £90.1m in the first half of 2013 to £82.4m this year.

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HMRC owed £15bn in tax, overpaid credits and fines

15 July 2014 8:22 am | By Steve Tolley

Public Accounts committee calls for immediate action from Treasury to claw back money owed to Government.

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Former TSC chair Lord McFall calls for tax simplification to tackle avoidance

9 July 2014 4:28 pm

Labour peer Lord McFall says simpler tax code and some form of scheme approval would reduce avoidance.

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HMRC wants access to bank statements

9 July 2014 8:47 am | By Steve Tolley, Tessa Norman

Revenue wants banks to hand over statements as part of plans to recoup tax owed directly from bank accounts.

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TSC member calls on HMRC to expose 'dodgy' tax advisers

8 July 2014 2:14 pm | By Steve Tolley

Conservative MP Jesse Norman says table would clarify which advisers are “dodgy” and which are not.

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HMRC apologises over £1.9bn tax mistake

8 July 2014 12:50 pm | By Steve Tolley

HMRC chief executive Lin Homer says error wasn’t spotted earlier because it was in the past.

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MPs to grill HMRC boss over £1.9bn mistake

4 July 2014 10:10 am | By Steve Tolley

HMRC will face two Parliamentary committees over errors that led to it overstating its success in recouping owed tax.

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Govt warned over 'nightmare' NIC and income tax merger

3 July 2014 1:00 pm | By Steve Tolley

Tax experts say merger would be difficult to deliver.

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Osborne resurrects plans to merge income tax and national insurance

30 June 2014 8:33 am | By Natalie Holt

Plan is actively being considered by Downing Street, according to The Times.

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Govt under pressure to tackle tax avoidance promoters

26 June 2014 8:00 am | By Steve Tolley

Public Accounts committee says HMRC and Treasury are unable to cope with increasingly complex tax rules.

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Tax take from savers greater than 'sin taxes'

24 June 2014 8:41 am | By Devraj Ray

Stamp duty and inheritance tax revenues will be greater than alcohol and tobacco duties by the end of the 2015/16 financial year.

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Lawyers attack 'unfair' plans on tax avoidance rulings

18 June 2014 1:17 pm | By Steve Tolley

Law Society wants plans to bind users of tax avoidance schemes to judicial rulings to be dropped.

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High Court throws out stamp duty avoidance appeal

16 June 2014 10:08 am | By Steve Tolley

High Court backs retrospective closure of stamp duty loophole.

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HMRC to give IHT allowance flexibility in trusts

12 June 2014 | By Natalie Holt, Steve Tolley

HMRC proposes giving people discretion over how they split £325,000 tax allowance between multiple trusts.

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