Archive for August 2017

More tax transparency with offshore investments

HMRC is taking more interest in offshore investments

HM Revenue & Customs (HMRC) wants to remind you of its interest in your offshore investments. Globalisation is not just about trade and investment flows. One of the significant changes to tax in recent years has been a move towards globalisation of tax. A prime example is the development of Common Report Standards (CRS) by…

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UK share dividends keep growing for 2017

UK share dividends

UK companies paid out a record amount in dividends in the second quarter of this year. At a time when there is much heated debate about whether the Bank of England should double its base rate to 0.5%, it can be easy to forget the much higher income yield available from UK shares. While most…

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State pension age rises again

State pension age in the UK is set to rise again

The government has announced plans for a further increase in state pension age. On the day before parliament shut up shop for its summer holidays, David Gauke, the Secretary of State for Work and Pensions, announced that the government had decided state pension age (SPA) should be increased to 68 between April 2037 and April…

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Lack of pensions advice worries FCA

JacksonToms provide independent pensions advice

The Financial Conduct Authority (FCA) has examined the impact of pension flexibility and is worried about the lack of pensions advice. Pension flexibility came into effect in April 2015. In theory, since then it has been possible from age 55 onwards to withdraw your entire money purchase pension fund as a lump sum, albeit generally 75%…

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Finance Acts 2017 – the sequel?

Parliament - home of the ongoing debate about the Finance Acts 2017

The long-running saga of the final spring Budget and subsequent Finance Acts is one step nearer the end. The Chancellor’s spring Budget was thrown into disarray by the snap election. It was billed as the last spring Budget, since from now on all Budgets will be autumn events. However, only about a fifth of the…

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