HMRC will not be appealing against the decision in Gary Hymanson v HMRC [2018] TC 6815 where the taxpayer mistakenly breached his £1.8m lifetime allowance.
HMRC commissioned research into claimants’ understanding of the High Income Child Benefit Charge. HMRC commissioned research into claimants’ understanding of the High Income Child Benefit
Encashment of single premium bond. Calculating income tax on the chargeable event gain. In calculating tax does the whole chargeable event gain or only the
Eligible employees contributing to workplace pension pots saved a total of £90.4 billion in 2018, an increase of £7 billion on the amount saved over
U.K. manufacturing slumped in April as the boost from Brexit stockpiling evaporated and car factories halted work, boding ill for the economy in the second
Just 10,084 grandparents are currently claiming national insurance credits through a little-known scheme according to a new Freedom of Information request by mutual insurer Royal
Is there an old pension plan out there with your name on it? Studies have estimated there are more than £19bn of lost and forgotten
Landlords’ costs are likely to increase after some of the largest letting agents announced plans to raise their charges in response to a Government ban
This week, despite the escalating trade war with China and a growing possibility of an actual war with Iran, US markets largely shrugged off rising
We were delighted to again be sponsoring Bucks Sporting Lunch Club business network, which took place at Dorney Lake on Friday 3 May 2019. Three
Latest property transaction statistics show an increase in the number of transactions completed in the UK compared to last year. HMRC issues monthly estimates of
The Government’s proposals for complying with new trust registration and disclosure requirements under the EU’s Fifth Money Laundering Directive HMRC has issued its consultation paper
House price growth hit a five-year low in January 2019, Land Registry data shows. Its figures revealed that house prices grew 1.7% annually at the
Rising prices for food and alcohol pushed inflation higher in February, the latest official figures show. The Consumer Price Index (CPI) rose to 1.9% last
A United Nations committee has urged the government to ensure the increase in state pension age does not have a discriminatory impact on women. In
Individuals who are, or are likely to be, affected by the reduction in the lifetime allowance from £1.25 million to £1 million which applied from
Since 6 April 2016, where an individual has threshold income of more than £110,000 and adjusted income of more than £150,000, their annual allowance is
The payment of contributions to maximise the current tax year’s annual allowance and to make full use of carry forward is an important consideration for
This week President Trump appeared to make a major concession in his trade negotiations with China by significantly softening his stance on Huawei. Trump said
The money purchase annual allowance (MPAA) has trapped almost one million over-55s, who must now live with a permanent reduction to the amount they can
2018 was not a good year for UK companies. The stock market suffered its worst year in a decade, falling 12.62% over the calendar year.
Older homeowners unlocked a record £3.94bn of property wealth using equity release during 2018 – just failing to break through the £4bn barrier for the
The looming threat of Brexit has dragged down the UK property market further, with prices falling at their fastest rate in six years according to
The Government’s Pensions Dashboard plans unveiled last month have many hurdles to overcome and poor pension records could torpedo them, an ex Pensions Minister has
A House of Lords committee has reiterated concerns that government proposals to increase probate fees are a “stealth tax” after concerns were raised that changes
It’s quite understandable if investors are confused at the moment as news flow and data releases are not providing certainty. Disappointing Apple revenues were rapidly
UK house prices fell 0.7% in December and price growth for last year dropped to its slowest pace since 2013, according to the latest Nationwide
The UK Treasury has signed into force a statutory instrument banning any unsolicited phone calls for direct marketing purposes in relation to occupational or personal
A high court judge has granted a judicial review to determine whether recent increases to women’s state pension age were lawful. The case was brought
House price growth picked up last month, but the market remains subdued as an uncertain economy and the squeeze on household budgets continue to dampen
Around three million homeowners expect to still be paying back their home loans into retirement and lenders are responding by launching increasing numbers of mortgages
Buildingan investment portfolio requires commitment, patience, sacrifice and nerves of steel – especially when stock markets go into free fall. Certainly, the recent sharp sell-off
Investment trusts, unlike collective funds such as unit trusts and open-ended investment companies, spend far less on marketing and, as such, are often overlooked. Here
People who attempt to swap final salary company pensions for cash are being left in limbo following a controversial legal judgment. More than a quarter
Letters calling for May’s replacement are pouring in to the powerful chairman of the Conservative Party’s 1922 Committee: if he receives 48 letters, there could
House prices are now lower than they were a year ago for properties being put up for sale, according to new research. The average asking
More than a million low-earners are losing an estimated total of £72m a year in pension perks because of a little-known anomaly that mainly affects
At the offices of BNP Paribas in Marylebone recently, I listened to a joint presentation by forestry industry leaders Tilhill Forestry and John Clegg &
We were delighted to be invited by Thames Hospice to the prestigious Guildhall in Windsor to hear all about the Hospice’s exciting new build plans and
We are delighted to announce that Robbie Branfield, who joined us back in 2015 has passed his Diploma in Financial Planning. Steve Wilson, Managing Partner,
When you sell a property, you may have to pay capital gains tax (CGT) if you have let it out. How much you pay depends
We were delighted to host a morning seminar on Estate Planning Strategies at the prestigious Buckinghamshire Golf Club in Denham. Guests were given an overview by Steve
A recent case reminds us of the pitfalls of so-called deathbed planning as well as the dangers of getting involved in contrived tax mitigation schemes.
Dorney Lake, Friday 12 October: Thalia Kirby, 17, a golfer from Marlow in Buckinghamshire and Ceara Barber,16, a swimmer from Gerrards Cross have been awarded
It may not feel like it, but ten years on from Lehman’s, there is plenty of good news to point to. Most positively, employment is
People in the UK left £2.85bn to charity via gifts in wills last year – the largest amount ever recorded. The noteworthy figure is the
Local authorities will collect a whopping £79million from 77,000 landlords this month as new licensing rules come into effect. HMO licensing – which stands for
Savers are being left at the mercy of inflation eroding their savings, despite a boom in the number of rate rises in the market. Just
On Sunday the 22nd of September, Steve, Karen and David completed the London to Windsor Bike Ride, raising money for local charity, Thames Hospice. It
Operators of costly final salary pensions are being accused of offering overly-generous sums to savers leaving the ‘gold-plated’ schemes. The Pensions Regulator (TPR) wrote to
The number of new ISA accounts fell to an 18-year low during the last tax year, figures from HM Revenue and Customs (HMRC) have revealed.
The pound has plummeted and put the currency under renewed pressure after Michel Barnier blasted Theresa May’s Chequers plan, becoming the latest to heavily criticise
Team 2hWealthcare are taking to our saddles and raising money for local charity, Thames Hospice On the 22nd September we will be completing the 29
The value of the average home increased by 0.6% in July to £217,010 according to the latest Nationwide house price index. So a modest rebound
The direct impact on most people is minimal. Most people with large mortgages are on fixed rates, so the increase has no impact. The
2hWealthcare were delighted to be involved in the newly released book, The Later Living Guide by Teresa Payne. Both Steve Wilson and David Allen from
Nomi Prins, former Wall Street Banker, White House adviser and author was the key speaker at our investment conference held on 15th May at Stoke
Louise Sugden, 33, a para power lifter from High Wycombe in Buckinghamshire was awarded £1,000 from the SportsAid’s Bucks Sporting Lunch Club on Friday 4
Contained within the Pensions Newsletter is an update on pension schemes and their TRS reporting requirements. HMRC have published Newsletter 98 which gives an update
An estimated 69,000 first-time buyers have benefited from the abolition of stamp duty land tax on properties under £300,000 According to the Government’s latest figures,
The Government aims to tighten regulation for claims management companies. The Financial Guidance & Claims bill is, at the time of writing, nearing the end
High Court decides on domicile of the deceased for the purposes of the 1975 Act claim against his estate (Proles v Kohli, 2018 EWHC 767
The OTS has issued its formal IHT review call for evidence. Back in mid-January the Chancellor wrote to the Office for Tax Simplification (OTS) asking
Despite having a population of only 40 million compared with the UK’s 65 million California’s economy has surpassed that of the United Kingdom to become
Analysts and investors had been very confident the Bank of England would raise the rate to 0.75% on 10th May. Not so now. The Bank
HMRC seems to be putting its flagship “making tax digital” (MTD) project on hold. Instead, it’s all hands on deck at the Brit tax authority
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