Lakshmi Narain sets out some key tax issues for advisers to consider this month.
HMRC has published an ‘overview’ of the Seed Enterprise Investment Scheme, which will provide tax reliefs for new shares issued on or after 6 April 2012 by small, ‘early stage’ companies. The reliefs will operate alongside the Enterprise Investment Scheme.
New legislation will address income tax avoidance under the ‘chargeable event’ regime ‘by putting beyond doubt that gains liable to income tax are not reduced where there are certain untaxed gains earlier in the life of the policy or contract, or by the use of certain cluster policy arrangements’
The Registered Pension Schemes and Overseas Pension Schemes (Miscellaneous Amendments) Regulations, SI 2012/884, ‘strengthen’ the tax provisions relating to the t
Perminder Gainda looks at a recent decision of the First-tier Tribunal on the application of the principle that interest for individuals is generally taxable when received.
The National Savings Bank (Investment Deposits) (Limits) (Amendment) Order, SI 2012/795, increases to £5,640 with effect from 6 April 2012 the amount that may be subscribed in ISAs offered at the National Savings Bank,
The Social Security (Credits) (Amendment) Regulations, SI 2012/766, make a national insurance credit available on application to people who receive
The Postal Services Act 2011 (Taxation) Regulations, SI 2012/764, are intended to provide a ‘tax neutral’ outcome on the transfer of pension rights from the Royal Mail Pen
HMRC has updated its Enterprise Investment Scheme web pages to reflect a change of address for the Small Company Enterprise Centre and some other, minor amendments.
Members of pension schemes have been urged not to be ‘taken in’ by website promotions and newspaper ads encouraging them to transfer an existing pension to a new arrangement in return for a cash payment.