Ten ways YOU can duck Starmer's blitz on inheritance tax, capital gains and pensions: JEFF PRESTRIDGE
6 months, 3 weeks ago

Ten ways YOU can duck Starmer's blitz on inheritance tax, capital gains and pensions: JEFF PRESTRIDGE

Daily Mail  

It’s countdown time, but unlike the television programme with the same title, the country’s middle classes have 60 days – not 30 seconds – to get smart and beat some of Labour’s impending tax rises. Surplus gains attract capital gains tax – with basic rate taxpayers typically paying 10 per cent, while higher-rate and additional-rate taxpayers pay 20 per cent. ‘Shares are easy to sell, so realising gains now may make sense from a tax point of view,’ says Nicholas Hyett, investment manager at adviser Wealth Club. But Hollands says it is possible to ‘mop up’ unused annual allowances from the previous three tax years – under so-called ‘carry forward’ rules. He adds: ‘Use of carry forward gives someone the opportunity to make a large pension contribution ahead of any possible changes to pension tax relief.’ Anyone thinking about this should take professional advice.

Financial Wealth Budget Capital Gains Tax Relief Capital Capital Gains Tax Relief Rate Reeves Shares Inheritance Tax Isa Iht Cgt Gains Basic Rate Taxpayers Pension Contributions Hollands Pension Tax  duck  gains  isa  pension  tax  prestridge  ways  relief  inheritance  starmers  cgt  pensions  capital  wealth  rate  jeff  financial  shares

History of this topic

Pension tax relief: How it works and how it can boost your retirement
3 weeks, 4 days ago

Pension tax relief: How it works and how it can boost your retirement

The Independent  

Pension tax relief is a great way to supercharge your finances, potentially adding thousands of pounds to your retirement savings. And £79,100 of that wealth would be due to pension tax relief alone, assuming an investment growth of 5 per cent and an annual increase in contributions of 2 per cent each year. Monthly pension contributions Boost from tax relief …

Rachel Reeves' plan to hike capital gains tax 'will bite into the profits of investors'
4 months, 3 weeks ago

Rachel Reeves' plan to hike capital gains tax 'will bite into the profits of investors'

Daily Mail  

Investors will lose more of their profits from the sale of shares after Chancellor Rachel Reeves announced an immediate hike to capital gains tax rates. For sales of shares, basic rate taxpayers typically pay 10 per cent on their gains, while higher and additional rate taxpayers must cough up 20 per cent. But this will now be raised in line …

Rachel Reeves urged to raise capital gains tax to 39pc by Labour think tank
5 months, 1 week ago

Rachel Reeves urged to raise capital gains tax to 39pc by Labour think tank

The Telegraph  

Rachel Reeves should raise capital gains tax to as much as 39pc at her maiden Budget later this month, a Left-leaning think tank has said. A wholesale reform of CGT, including cracking down on reliefs to stop investors avoiding higher tax rates, could raise in the region of £9.5bn per year, according to economists at the think tank. This would …

Reeves warned against ‘perilous’ pension and capital gains tax rises
6 months ago

Reeves warned against ‘perilous’ pension and capital gains tax rises

The Telegraph  

Rachel Reeves has been warned of the “perilous” impact of increasing pensions and capital gains taxes, as economists claimed this would damage living standards, discourage saving and harm growth. It said that launching a blanket raid on capital gains would also backfire, with tax increases acting as an “ever-greater drag on saving and investment”. ‘Jumbled tax system’ The IFS said: …

Autumn Budget 2024: When it is and what experts predict will happen - from tax rises to pensions
6 months, 3 weeks ago

Autumn Budget 2024: When it is and what experts predict will happen - from tax rises to pensions

Daily Mail  

UPDATE: Rachel Reeves has now delivered her Budget. Basic rate taxpayers with taxable income below £50,270 pay 10 per cent capital gains tax, while higher and additional rate taxpayers pay 20 per cent. Rates are different on property that isn't your own home, and profits on second homes and buy-to-lets face capital gains tax rates of 18 per cent for …

How Labour could raise taxes as Starmer admits budget will be ‘painful’
6 months, 3 weeks ago

How Labour could raise taxes as Starmer admits budget will be ‘painful’

The Independent  

Sign up for the View from Westminster email for expert analysis straight to your inbox Get our free View from Westminster email Get our free View from Westminster email SIGN UP I would like to be emailed about offers, events and updates from The Independent. open image in gallery Chancellor Rachel Reeves will deliver her first Budget in October On …

Starmer-backed group of Labour MPs proposed six tax rises worth £60bn
9 months ago

Starmer-backed group of Labour MPs proposed six tax rises worth £60bn

The Telegraph  

A dossier drawn up by Labour MPs proposed six new tax rises to raise £60 billion. The proposals from the party’s Tribune group – of which Sir Keir Starmer is a member – set out increases to inheritance tax, capital gains taxes and a new “jackpot” levy on the super-rich. The document, seen by the Daily Mail, was submitted as …

Rishi Sunak looks to target rich with review of capital gains tax to fill budget black hole
4 years, 8 months ago

Rishi Sunak looks to target rich with review of capital gains tax to fill budget black hole

The Independent  

Sign up for the View from Westminster email for expert analysis straight to your inbox Get our free View from Westminster email Get our free View from Westminster email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy A review of capital gains tax has been launched, prompting suggestions …

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