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ARTICLE by The Technical Team
In order to understand why there have been changes to top slicing relief announced in the budget, it’s useful to have a quick recap of how we got here.
In this article we cover some of the miscellaneous budget announcements impacting pensions, tax and trusts.
ER provides for a lower rate of CGT (10%) to be paid when disposing of all or part of a business where certain criteria are met.
As had been widely speculated given issues with the NHS Defined Benefits scheme the Chancellor announced changes to the Tapered Annual Allowance.
Information on UK tax and allowance for the years 2020/21 to 2022/23
Information on UK investment bonds, including what they are, identifying chargeable events, part arrangement (5% rule) and part assignments.