We’ve recently reviewed our series of Key Guides as usual at this time of year.
These specialist publications provide you with expert content on topics ranging from starting and selling a business to strategies for a high tax environment.
With the snap general election called for 8 June, the government was particularly active in trying to push through its Finance Bill before the dissolution of Parliament. However, the record-breaking 762-page Bill ended up as a mere 148 page Finance Act as more controversial items were set aside to smooth its passing.
There is still uncertainty around some measures such as the changed money purchase annual allowance cut for 2017/18 and the projected cut to the dividend allowance for 2018/19, but both are expected to be reinstated should the government be returned on 8 June. We will certainly keep you posted at that time.
The main areas to look out for this quarter are:
- The taxation of investments
We have updated the section on dividend income to reflect the Finance Bill changes. We’ve added further information regarding property income and tax credits.
- Pensions freedom – drawing from your pension
We’ve made updates to reflect the changes to the annual allowance and amended the figures in the flexible pensions and rigid tax example.
- Pensions and tax planning for high earners
This Guide has been updated substantially, with a new introduction on the tax burden on income. We’ve also amended the facts and figures on pensions tax relief and carry forward rules.
- You and yours – estate planning
Amendments have been made to this Guide to further improve clarity and highlight the new main residence nil rate band.
For further information on any of the topics above and to view our full set of updated Key Guides, please click on the links below.
Or contact us – call 01273 774855 or email firstname.lastname@example.org – to discuss any issues that may affect you.