- Managers of Wealth - Europe - Wealth, private banking and asset management news and opinion

Changes to IHT and pensions risks becoming ‘a bureaucratic nightmare’

The proposed changes, introduced in a government consultation, outline an extensive process for including pension assets in IHT calculations.

Investment Association comment on the Autumn Budget

The proposed modern industrial strategy and corporate tax roadmap are a welcome starting point to attract greater capital. 

Higher UK air taxes will not deter private jet customers, industry bosses say

Passenger duty will increase 50% for the largest private jets in 2026

Over 4m more UK workers to pay income tax by 2030 despite Labour threshold thaw

For millions of middle-income earners, this means paying a higher proportion of their income in tax without seeing any real increase in their purchasing power.

Chancellor’s Budget expected to unleash wealth and talent exodus out of Britain

There is legitimate concern that these policies are a fast track to a brain drain, with high-net-worth individuals, entrepreneurs, and top talent now actively exploring relocation to more tax-friendly jurisdictions.

What does the Budget 2024 mean for the wealthiest UK taxpayers?

As the dust settles on the Budget 2024, advisers from the Spear’s network give their insights into the impact the government's tax policies will have on Britain's HNWs and entrepreneurs

Search for lower taxes spike from wealthy ahead of UK Budget

Rachel Reeves, Chancellor of the Exchequer, outlined her Budget today which may contain various tax rises for UK residents which Canaccord say has been causing concern for their wealthy clients.

A new fiscal landscape: how Labour’s budget impacts wealthy taxpayers

The government’s Budget measures are predicted by the independent Office for Budget Responsibility to generate nearly £40 billion ($52 billion) in additional revenue in the 2025/26 tax year.

Exit tax would not stop flight of wealthy

With the Budget set to hit wealth creators, high net worth individuals and non doms, there are concerns the Chancellor could be eyeing up an exit tax

FCA fines Kristo Käärmann £350,000 for failing to notify the FCA of significant tax issues

In February 2021, Mr Käärmann paid a significant fine to HM Revenue & Customs (HMRC) of £365,651.

From capital gains to inheritance tax, what the budget means for Britain’s wealthy

Ahead of Rachel Reeves' 30 October Budget, experts from the Spear's network share their insights into the likely impact of these potential tax changes on the UK’s high-net-worth community

HMRC pays £44m in tax refunds to pensioners stung by outdated PAYE system

While this quarter has seen a slight decrease in overpayments compared to the last, it underscores the ongoing complexity and inefficiencies in the system when it comes to flexible pension withdrawals.

HMRC report identifies £400m under-declared tax from individuals with offshore income

16% of individuals are not reporting and paying the correct tax

New HMRC report identifies £400m of under-declared tax from individuals with offshore income

HMRC now has access to much more international data than ever before

KPMG’s Black Entrepreneurs’ Awards 2024 winners

Four outstanding Black heritage entrepreneurs chosen from over 150 applications

HMRC clarifies tax rules for DB pension surplus refunds

HMRC also confirmed that it will update the guidance included in the Pensions Tax Manual at PTM145200 with examples to reflect this.

Chancellor might create ‘experimental’ new tax for the Budget

The creation of a new tax depends on how bold Reeves is and how much of the “black hole” is left to fill.

Structuring strategies for a changing tax landscape

This period of uncertainty has understandably led many clients to adopt a “wait and see” approach as they await the outcome of the upcoming Budget.

Tax threshold freeze could drag up to 1.5m pensioners into higher and additional rate tax by 2030

For those with a combination of state and private pensions, the hit will be felt even sooner, eroding their incomes at a time when financial security is crucial.

‘Tread carefully’ on taxing the rich, warns Wealth Club

Ultra-wealthy individuals might move abroad if the tax system in the UK becomes too burdensome