Archive for April 2016

Automatic enrolment: the number of fines is increasing  

The Pensions Regulator is finding a growing number of automatic enrolment failures. The Pensions Regulator (TPR) recently issued its latest “Compliance and enforcement” bulletin, looking at progress to the end of 2015. This showed that as the size of employers drawn into the scope of auto-enrolment has shrunk, so have the TPR’s actions and fines…

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Is LISA the back door to pension reform?  

The announcement of the Lifetime ISA suggests that the Chancellor has not given up on his ideas for reforming the taxation of pensions. Shortly before the Budget there was an unofficial announcement that the much leaked (but equally unofficial) plans for pension tax reform would not be making an appearance. Most commentators thought the Chancellor…

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Keep an eye on your cash

The latest inflation figure has crept up again, but interest rates haven’t followed. Between December 2015 and January 2016, overall prices as measured by the Consumer Prices Index (CPI) fell by 0.8%. However, prices normally fall between Christmas and the New Year as the sales get under way and the festive travel price hikes are…

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Another investment quarter passes  

The first quarter of the year is over. For all the excitement over the last three months, from end to end, not much happened. Do you remember back to the first half of February, when markets were full of doom and gloom and the FTSE was threatening to drop below 5,500 and the Dow Jones…

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More anti-avoidance measures  

The Chancellor hopes to raise another £12bn from anti-avoidance measures announced in the Budget. A Budget would not be a Budget without the announcement of a range of new measures to counter tax avoidance and tax evasion. The latest Budget did not disappoint. Among the targets under the heading of “Avoidance, Evasion, Imbalances, and Operational…

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Income tax changes

The burden of income tax was reduced slightly in the Budget, but anomalies remain. The personal allowance will rise from £11,000 to £11,500 in 2016/17 and the higher rate threshold – the starting point for 40% tax – will rise by £2,000 to £45,000. While the Treasury described the increase in the higher rate threshold…

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A capital gains tax cut – but only for some

The Chancellor made a surprise decision to cut capital gains tax (CGT) in his Budget – but not for everyone. Cast your mind back to June 2010, when George Osborne presented his first “Emergency Budget” as Chancellor. One of his tax raising actions was to introduce a two tier system of CGT. Instead of being…

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