View more on these topics

Finance Bill confirms Budget changes

Legislation to bring in the tax measures set out in last week and last year’s Budgets has been published by the Government.

The bill’s explanatory notes set out the cut in the top rate of tax to 45p from April 2013, reducing the level at which individuals start paying the 40p tax rate to from £35,000 to £34,370 from April 2012 as well as the changes to stamp duty, the personal allowance and caps on income tax relief.

It also contains measures to tighten up rules around income tax avoidance on life insurance policies, stamp duty and inheritance tax by using offshore trusts.

Around 75 per cent of the bill is made up of measures announced at last year’s Budget, including the rise in the the income tax personal allowance to £8,105 from April 2012.

Treasury exchequer secretary David Gauke says the measure in the bill demonstrate the Government’s commitment to rewarding work, simplifying the tax system and tackling the nations debt.

He says: “The measures in this bill will create a tax system which supports a strong economy and promotes a fair society. In other words, a tax system that works for Britain.”

Recommended

4

Easter launches advice firm with Peter Williams and David Ingram onboard

Former Honister Capital director Alan Easter is launching a new advice and fund management group, which has former Aegon head of industry development Peter Williams and former Threesixty technical director David Ingram on the board. The Beaufort Group is made up of Beaufort Financial Planning and Beaufort Investment Management. BFP will provide whole of market […]

BlackRock international retail head joins Jupiter

Jupiter has hired BlackRock head of international retail Maarten Slendebroek as distribution and strategy director. Slendebroek, who will also join the board as an executive director, is expected to join the firm in the second half of 2012 and will report to Jupiter chief executive Edward Bonham-Carter. Slendebroek has over 25 years experience in financial […]

George
1

A tax on aspiration

Gregor Watt reports that Budget measures have brought dismay across the housing industry

Brian Dennehy launches Fidelity-powered non-advised platform

IFA firm Dennehy Weller & Co is offering a non-advised platform powered by Fidelity FundsNetwork which allows investors to choose and buy funds based on their appetite for risk. Around 200 investors have accessed FundExpert.co.uk since it was soft-launched this month. Dennehy Weller managing director Brian Dennehy says he approached FundsNetwork about the concept 18 […]

Pensions - thumbnail

Preparing for the changes to the pensions market

As more and more providers start to reveal their stance on the charge cap and removal of commission and active member discount pricing, we thought it would be worthwhile to look at what these are, and the steps businesses should be taking to prepare for this.

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment