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

Autumn Budget 2024: what trustees need to know

The new regime will therefore bring a number of existing “excluded property” trusts within the scope of UK IHT for the first time.

Clear tax roadmap essential for effective FCA targeted support for pension savers

Targeted support, as suggested by the FCA, has the potential to act as a stepping stone towards full advice while providing information that feels more relevant to people than generic guidance.

Income tax will be frozen until 2026, Finance Secretary promises

Shona Robison said more people will also be pulled into paying lower rates of tax as thresholds increase by around double the rate of inflation.

Record Post-Budget inflows to equity funds as Investors avoid the tax hikes

After October’s record outflows, prompted by fears, subsequently justified, that the Chancellor would hike capital gains tax,

Wealthy families shuffle towards UK exit door

New rules on resident non-doms (RND) announced in the UK Budget have created material uncertainty and could end up having counter-intuitive implications for the government.

Mercia announces Interim Results FY2025

The interim dividend will be paid on 8 January 2025 to shareholders on the register at the close of business on 6 December 2024.

HMRC issues scams warning as Self Assessment deadline looms

HMRC will never leave voicemails threatening legal action or arrest, or ask for personal or financial information over text message – only fraudsters and criminals will do that.

Average single homeowner in England with moderate pension savings to suffer £107k inheritance tax under new rules

A moderate lifestyle includes being able to afford £74 a week on food (including food away from the home) as well as two weeks in Europe and a long weekend in the UK every year.

Inheritance and capital gains tax receipts rise with budget changes set to turbo charge data

This consistent upward trend underscores the government’s rationale for freezing the IHT threshold until 2030.

EV adds inheritance tax functionality to its financial planning tool

The new feature provides advisers with an IHT liability illustration

Demand for advisers will ‘surge’ as 1 in 10 deaths incur IHT charge by 2030

The proportion of deaths subject to IHT projected to double

Key changes in UK’s non-domicile regime overhaul

The headlines are that the remittance basis of taxation will be abolished and replaced with a new residence-based regime.

IHT on pensions disincentivises retirement saving

Following the Autumn Budget, most unused pensions pots will be subject to inheritance tax from April 6 2027.

How a 90% tax rate could apply on some UK pensions post Budget

The precise rules as to how this will work remain subject to confirmation

IHT on pensions disincentivises retirement saving, says RSM UK

One rationale behind the change was to remove taxpayers’ “incentive to use pensions as a tax-planning vehicle for wealth transfer after death.”

UK tax plan for wealthy foreigners risks turning London into ‘bigger version of Bahamas’

Advisers warn British government’s proposal to replace non-dom scheme will attract those seeking short-term tax holidays

UK’s Richest Man Says ‘Spiteful’ Tax Hikes Will Kill Off Growth

The remarks are the most high profile attack from a British business leader since Reeves’ budget after firms were forced to shoulder the bulk of her £40 billion of tax rises.

Brits face 'double whammy tax hit' after Budget pension changes

Many families had planned to leave their pension pots to their loved ones as a means of preserving and passing on their wealth, but these plans have now been disrupted by the Budget's decisions.

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. 