View more on these topics

HMRC drops CGT charge on clean share class switches

HMRC-Tax-Form-700x450.jpg

HM Revenue & Customs has amended legislation to remove capital gains tax charges when selling down bundled assets to move into a clean share class.

A change in legislation means any capital gains tax charge will be rolled over until final disposal of the assets.

HMRC says it has made the changes to facilitate the move to clean share classes.

An HMRC spokesman says: “The changes have the effect of treating the new share class issued as the same asset as the old for which it was exchanged. This means that any CGT charge is rolled over until final disposal of the new share class holding.

Prior to the amendment, selling down assets in a bundled share class to buy into a clean share class could have carried a CGT charge.

Recommended

Scottish Widows eyes ‘money back’ guarantee pensions

Scottish Widows is exploring the practicalities of offering a “money back” guarantee pension product as the Government investigates ways to increase security for auto-enrolment savers. In July last year, pensions minister Steve Webb challenged insurers to develop products which guarantee members get back at least the value of their pension contributions.  He argued that people have […]

David Finlay: Making the most of the remortgage opportunity

I can finally say the padlock has been installed on the central heating cupboard, thanks to the advent of summerish conditions, along with instructions for it not to be removed until October at the earliest. Of course, I do not hold the key but that is not the point. For millions of people it is […]

Michael-Ward-700x450.jpg

MM profile: Michael Ward on letting technology take the strain

Building financial services firms that are based on technology seems almost inevitable for Payingtoomuch.com founder and managing director Michael Ward. When he was growing up his father, a barrister, was vocal about the benefits of self-employment so when the opportunity arose to be his own boss at the age of 25, with four years’ financial […]

3

Friends Life partners with KRS for pensions Omo service

Friends Life has linked with Key Retirement Solutions to offer a whole of market shopping around service to pension customers who do not have an adviser. The provider says the non-advised arrangement will be piloted over the next few months and is being introduced to help people make the most of their pension when they […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com