Tax rates, allowances and reliefs
This guidance provides a summary of key tax rates, allowances and reliefs for 2017/18, 2018/19 and 2019/20.
Pensions
Expert commentary and practical guidance from ICAEW related to pensions in the UK personal tax regime.
Need to know
In this section
Practical guidance
TAXguide: 06/20 Spring Budget 2020
Rishi Sunak delivered his first Budget of 2020 on 11 March. The Tax Faculty provides its summary of all the key tax announcements in this TAXguide.
TAXguide 01/20 Tax Treaty Briefing September/December 2019
This information is based on the author’s work, Practical International Tax Planning for UK Businesses and is reproduced with the consent of the publishers, Croner-i
TAXguide 17/19 - Pensions - saving and drawing - a roundup of recent changes
This guide is intended as a roundup of some of the changes to registered pension schemes since 2006. It is not intended to be a definitive guide to pensions, more an index alerting the reader to changes that perhaps require further research.
TAXguide 05/15
Company Directors - PAYE Real Time Information. A questions and answers guidance note.
Features and articles
Tax news in brief
Highlights from the broader tax news week ending 20 January, which includes: HMRC to amend CJRS guidance over annual pay, updates to ICAEW's support on options for self-assessment deadlines, HMRC webinar to help avoid pension scams, and potential VAT implications for Gibraltar post-Brexit.
NHS pensions - Annual allowance compensation scheme 2019/2020
While annual allowance tapering was introduced on 6th April 2016, the full impact began to be felt by clinicians more recently.
Your pension – is it working hard enough for your future?
Tilney reminds us that time spent now could pay big dividends in the future, particularly with changes to pension tax relief on the cards again.
Not the time to alter tax relief on pension contributions
13 October: ICAEW has questioned whether it is the right time to change rules on tax relief on pension contributions which would increase administrative burdens.
Tax penalties on pensions and how to avoid them
UK nationals risk up to 55% taxation if pension funds exceed the lifetime allowance on any one of 13 Benefit Crystallisation Events (BCEs) and 25% on some overseas pension transfers. But there are steps to take to limit exposure, writes Jason Porter, director of specialist expatriate tax and wealth management firm Blevins Franks.
Share your experiences of simple assessment
7 September: ICAEW’s Tax Faculty is meeting with HMRC to discuss its power to issue simple assessments on 11 September and is urging members to share their feedback.
In-specie pension contributions
Ross Welland examines the 2020 Upper Tribunal case of HMRC v Sippchoice concerning in-specie pension contributions. He covers the facts, the case itself and the implications of the tribunal’s decision.
Universal Credit improves but attracts NAO criticism
14 July 2020: The National Audit Office has stated that vulnerable claimants struggle with Universal Credit and face financial difficulties, while administration costs are still too high.
Bloomsbury Core Accounting and Tax Service
Eligible firms have free access to Bloomsbury Professional's comprehensive online library, comprising more than 60 titles from some of the country's leading tax and accounting subject matter experts. Find out who is eligible and how you can access the Core Accounting and Tax Service.
Pensions and life assurance
Chapter providing practical advice on pensions and life assurance in relation to inheritance tax planning.
Savings and investments
A full chapter on the taxation of pensions and benefits in the UK, written for tax practitioners.
Providing for pensions and life assurance
Expert guidance on pensions and life assurance taxation in relation to business partnerships.
Pension scheme strategies
Advice on tax planning for pension schemes, written for anyone who advises or runs a family or owner-managed company.
Pension funds
Chapter providing information for tax advisers on UK tax rules relevant to pension schemes.
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