- It's never too late (Non-Habitual Residence (NHR)) - Published Oct 2018 by Raoul Ruiz Martinez
- Are You on Top of GDPR? - Published May 2018 by Raoul Ruiz Martinez
- Financial Fitness - Published Jan 2018 by Raoul Ruiz Martinez
- Six Tough Questions You Need to Ask - Published in Nov 2017 by Raoul Ruiz Martinez
- Plan for a Successful Retirement - Published Oct 2017 by Raoul Ruiz Martinez
- 5-year Plan, 10-year Plan, 30-Year Plan. Do you have yours? - Published August 2017 by Raoul Ruiz Martinez
- The Will Bank Opportunity by John L Douglas - Published in The Journal of the Law Society of Scotland 17th July 2017
- August 2017 - HMRC & Offshore Accounts for UK Residents
- A New Year, A New Start…. January 2017
- Inheritance Tax (IHT) Planning (Part 3) - Published November 2016
- Planning for a Better Future? Forget Trusts. Think Family Investment Companies! - Published Nov 16
- Inheritance Tax Planning (Part 2) - Published August 2016
- BREXIT: What do we know as investors and what are the unknowns? Published in July 2016
- Inheritance Tax Planning (Part 1) - Published in June 2016
- Why is tidy a key word in financial planning? Published May 2016
- The Future of International Financial Planning - Published in March 2016
- Volatility: Global Financial Markets and Tax - Published Feburary 2016
- Financial Information Sharing for 2016 - Published December 2015
Summary of the 2015 Pension Flexibility - Published 5th May 2015
Offshore bonds get £5k tax free savings boost - Published 29th April 2015
How your peers invest clients’ money: Finesco Financial Services Ltd - Published in Professional Advisor 25th March 2015
- TRUSTS : Good Reasons to Never Make a Change - Published March 2015
- Saving....for Ourselves - Today's children will need A £2.4m pension pot.
- Cash is King - Article Published 25th July 2013
- Saving – Don’t Put Off Till Tomorrow What You Can Do Today - Article Published 23rd May 2013
HMRC Statutory Residence Test - 6th April 2013
- QNUPS Article Published 23rd March 2013
- Old New Year - Article Published 24th January 2013
- Retirement and Savings – The Facts on Inflation published November 2012
- Finesco Prsentation on New Pension Rules - A New Generation Begins
HMRC Pension Tax Relief Changes
- Emergency Budget:
- Budget Day: 22 June 2010
- Capital Gains Tax Angles
- Long Term Care
- QROPS: Transferring UK Pensions Overseas
- The State of Pensions
- ISA Changes Affecting You



Budget Day: 22 June 2010
The UK’s first Coalition Government in 70 years is now in place and the spotlight moves onto the measures most likely to be taken by them to tackle the formidable financial pressures facing the country
“The Coalition: Our programme for Government” sets out these measures under what they call a programme for partnership government. Chancellor George Osborne announced that their first budget will be held on Tuesday 22 June 2010 and it is widely anticipated that part, if not all, of the taxation measures outlined in Section 29 of the Coalition Agreement will be announced.
Section 29 states “We will seek ways of taxing non-business capital gains at rates similar or close to those applied to income, with generous exemptions for entrepreneurial business activities.”
It is clear, therefore, that Capital Gains Tax (CGT) is going to rise under the new Government’s proposals. The current CGT rate is 18% which means that the rate could more than double to 40% or even 50% to bring it into line with current Income Tax rates.
The timing of the proposed change is uncertain but it is possible that the change could be introduced on Budget Day, 22 June 2010, backdated or even set to take effect from 6 April 2011.
It is our view that it is wisest to be prudent and investors showing gains on stocks and shares, Unit Trusts or other investment assets or properties consider their position now in order that they can take action before the emergency budget now just a month away.
A further point to note is that it is possible that these increased rates could be in place for the next five years at least as it is the Coalition’s intention to make the present Government last that long. The result is that there could be a rush of investors holding substantial portfolios of property, shares or other assets who have not protected them in tax shelters such as Trusts, ISAs or pensions who face the unpalatable thought that up to 50% of the gains, which could have built up over a long period, will now be sacrificed to HMRC.
The above proposals constitute what is a dramatic increase in taxation which is likely to significantly impact upon individuals (and Trustees) who hold capital assets and who have not considered the use of tax avoidance strategies before. Our advice is to review matters as soon as possible and consider what options are available to seek protection and investigate tax saving opportunities.
This article represents our interpretation of current and proposed legislation and HMRC practice as at the date of publication. These may change in the future.