The non-UK domiciled individual has, for some time, enjoyed a magical tax status in the United Kingdom. Whilst new legislation introduced over the last few years has eroded some of the benefits, the mythically named “non-dom” still has preferred tax treatment over and above the “UK dom” and they should take steps to...
The recently announced new pension rules, effectivefrom 6 April 2011, are, onthe whole, an encouraginglypositive move from the Coalition Government who have broughtsome much needed simplicity topension investors of all ages. A number of planning opportunities arise for both contributions to and drawing benefits from pensions to compliment those that are already well known.
The most effective way of reducing a potential liability for Inheritance Tax (IHT) is to transfer assets within the lifetime of the owner of the assets to the people who stand to inherit that person’s estate. If the person transferring the assets survives for seven years, the liability for IHT on the assets transferred...
