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Budget 2018: Private residence relief rules tightened

In the 2018 Budget, the chancellor has confirmed that from April 2020, the rules regarding private residence relief will be tightened.

Private residence relief is designed to protect taxpayers from capital gains tax when selling their homes

Talking in the House of Commons, chancellor Philip Hammond said that, “Mr Deputy Speaker, we recommit today to keeping family homes out of capital gains tax. But some aspects of private residence relief extend it beyond that objective, and provide relief for people who are not using the home as their main residence.”

“So from April 2020, we will limit lettings relief to properties where the owner is in shared occupancy with the tenant, and reduce the final period exemption from 18 months to 9 months.”


Budget 2018: Social care funding gets £650m boost

Chancellor Philip Hammond has confirmed that more money will be poured into the NHS, social care and mental health in today’s Autumn Budget. A further £650m has been given over to social care funding for next year. Another £45m will go into specific disability provisions funding, and £84m has been assigned to children’s social care […]

Briefcase UK Treasury

Budget 2018: Hammond puts an end to PFI contracts

Chancellor Philip Hammond has said he will end the era of private finance initiatives by the government. Releasing his Budget today, the Chancellor said that there was insufficient evidence PFIs – where private firms compete to act as contractors on government – had worked. He claimed that 90 per cent had been signed under previous […]


Budget 2018: GDP revised upwards

GDP for Britain has been revised to 1.6 per cent for 2019, chancellor Philip Hammond has announced in his Budget today. Growth predictions dip to 1.4 per cent for 2020 and 2021 while returning to 1.6 per cent by 2023. The OBR’s forecast in the March Spring Statement was set at 1.3 per cent for […]


Budget 2018: Hammond ups Brexit budget by £500m

Chancellor Philip Hammond has increased Brexit preparation funding by another £500m in the 2018 Budget today. After allocating an initial £2.2bn to a new Brexit preparations department, Hammond noted said in last year’s Budget that a further £1.5bn for the purposes in last year’s budget. Today he announced that figure will rise to £2.0bn. Hanmond says […]

Managing customers in drawdown

By Lorna Blyth, Investment Marketing Manager Delivering a decent drawdown review process takes time and resources. This article looks at how you can manage drawdown clients in a more cost-effective way. Most advisers are seeing an increase in drawdown clients following pension freedoms. Often these are clients with lower fund sizes, which means advisers are […]


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