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

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

Will Labour’s inheritance tax revamp be a tax grab or genuine reform?

Yet more reports are now suggesting that the government is planning to increase the amount of money it raises in inheritance tax

Almost half of business owners would consider leaving UK if Budget delivers tax blows

The UK-wide survey of 500 business owners with turnovers of £5m upwards reveals that nearly half (48%) would consider moving their businesses abroad if tax changes on October 30th were clearly unfavourable.

Chancellor mulls CGT rise on sale of shares, but second homes to be excluded

Without a delay before implementation, higher CGT rates might encourage individuals to hold onto their assets longer

Removing IHT tax break on AIM stocks ‘might make it unfit for purpose’

The AIM is a sub-market of the London Stock Exchange that is designed to help smaller companies access capital from the public market.

Less offshore secrecy is central to any boost from wealth taxes

A UK transparency levy would kick-start global efforts to make it harder to conceal business ownership and beneficiaries

WMs warn Labour not to dent small-cap momentum with Budget tax tinkering

Concern is growing that the government could damage the UK small-cap story by tinkering with business relief in its Budget.

France Wealth Tax Charges Explained: How to Budget for Your Tax Liabilities as a Foreign National Resident

The previous system charged a wealth tax on a broader range of assets, including savings accounts, investment products, vehicles, jewellery, and art.

Industry responds as UK chancellor considers raising CGT to 39%

Unless there is a delay before implementation, increasing CGT rates would likely only incentivise people to hold assets for the long term rather than result in a quick and immediate increase in revenue.

Tax havens continue to facilitate theft out of developing countries

We also reported that among the countries that vetoed the initial proposal in November 2023 – and lost to the majority who voted in favour of it – were the US, UK, and all EU member countries.

Potential pension tax cut will spark fear and uncertainty among NHS workers

The government really needs to start thinking about the consequential impact.

UK pension tax relief to remain untouched in forthcoming Budget, says report

But there is still speculation that Reeves may either reduce the tax-free cash limit or making pensions subject to inheritance tax

London Luxury Real Estate Suffers Under Tax Fears

Alternative Hubs Weighed Due to UK Tax Changes

The legal framework for the United States and United Kingdom cross-border tax compliance

Under the treaty, various types of earnings, such as dividends, interest and royalties, are charged only in the country of residence or at reduced rates in each location.

Labour crackdown on non-doms may raise no money says Guardian report

It’s not the message itself (which is no surprise to the well informed) but the identity of the messenger.

Non-Dom Reforms: Activity over the summer and next steps

A summary of some of the points we have raised during HM Treasury’s ‘summer engagement’ programme and a quick look at what’s next