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Inheritance Tax


The inheritance tax nil-rate band has been increased from £231,000 to £234,000.

The increased threshold will apply to chargeable transfers occurring on or after 6 April 2000.


Capital Gains Tax

The Chancellor&#39s pre-Budget report flagged the likely improvements to taper relief for business assets and changes to this relief have indeed been proposed (see below). ANNUAL EXEMPTION This is increased from £7,100 in 1999/2000 to £7,200 in 2000/2001 for individuals and personal representatives, and (in most cases) from £3,550 to £3,600 for trustees.RATES OF TAXIt […]

Introduction Of Stakeholder Pensions

Although the new stakeholder pension contracts will not be introduced until 6 April 2001, and employers will not be required to offer access to a stakeholder scheme to their employees until October 2001 it is likely that the sales campaign for stakeholder pensions will develop as tax year 2000/2001 progresses. The Government are making more […]

Modernisation of Rules for Chargable Gains of Companies

The Government have proposed changes to the taxation of chargeable gains of companies. The proposed changes are:-1. From 1 April 2000 it will be possible for companies to transfer assets on a no gain/no loss basis in a wider range of circumstances than is possible under the current rules.2. Companies are presently able to transfer […]

More than a million face self-assesment fines

Over a million people face a £100 penalty for having missed the January deadline for Self Assessment forms says the Inland Revenue.More than three million have missed the deadline since the system was introduced in 1997.There are still 350,000 returns still outstanding from January1998 and the Inland Revenue has sent out at least 20,000 penalty […]


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