FROM THE PAPERS
Synopsis: Short summaries of articles we think you will find useful from some of the weekends broadsheets. At the end of each summary is a link to take you directly to the relevant article. Please see Helpful Hints at the end of the bulletin.
Date posted: Monday, December 09, 2013
Financial Times:” Autumn Statement: Investing”. Isa savers are likely to have more choice over where to invest their money in future but many other hoped-for changes to the tax-efficient wrappers that didn’t get a mention in this year’s Autumn Statement.
Financial Times:” Alternative investments hit US barriers to defined contributions”. The growing appetite for mutual fund alternative strategies among retirement savers has lured both retail and institutional asset managers, but getting products on to defined contribution (DC) platforms poses major challenges.
Financial Times:” Autumn Statement: Pensions”. People in their forties and younger face saving more privately or working longer to fund their retirement as the government confirmed plans to push back the age at which they can claim the state pension.
Financial Times:” Autumn Statement: One-off boost for state pensions”. Pensioners and those approaching retirement are to be given a one-off opportunity to boost their state pension income from 2016 following a surprise announcement in the Autumn Statement.
Financial Times:” Expats told: ‘keep records of trips home'”. Expats who have left Britain to live overseas are being warned to keep very careful records relating to any visits back to the UK, following a spate of recent challenges to non-residency claims by HM Revenue & Customs (HMRC).
Financial Times:” Professionals prefer defined benefits”.
Retail fund management professionals who make a living selling products for defined contribution retirement plans have shown a preference for defined benefit arrangements when it comes to their own personal savings
Financial Times:” Autumn statement: Property”. The chancellor took a modest tilt at what is arguably generous tax treatment of residential housing, introducing two new measures that will mainly affect the better off.
Financial Times:” There were few changes to the headline rates or allowances relating to personal taxation. The personal allowance will rise to £10,000 from £9,440 in April 2014, as previously announced, but there was no word on a rise to £10,500, a move supported by many MPs.
The Times:” Support for employee ownership”. Tax boost will encourage more firms to offer share schemes at work
The Times:” Partnerships come under taxman’s gaze”. THOUSANDS of high street lawyers, accountants, architects and dentists could be caught out by measures designed to stamp out tax avoidance by those operating fake partnerships.
The Times:” Foreign sellers hit by capital gains tax”. But Osborne makes no further reforms to the levels of stamp duty
The Times:” Chancellor acts over property ‘flipping’ “. Landlords rush to sell up as lucrative capital gains tax loophole is set to be tightened in April
The Times:” Boost for marriage, but savers short-changed”. In his Autumn Statement this week, George Osborne rewarded matrimony, but failed to encourage thrift. He also penalised inheritance tax plans, as we explain here.
The Times:” Savers being hit the hardest, Osborne admits”. Savers are paying the price for the buy-now-pay-later culture that left households, banks and the Government saddled with debt and plunged Britain into crisis, George Osborne said today.
The Times:” Accidental landlords caught in tax trap”. George Osborne’s decision to halve a tax break for people who rent out their former home is bad news for accidental landlords, but could boost the supply of homes available for first-time buyers.
The Times:” Crackdown on tax schemes at work ‘to net more than £5bn'”. Hedge funds, law firms, accountancy practices and construction companies will be forced to pay billions more in tax after the Government unveiled a double-headed crackdown on tax-avoiding employment structures.
The Telegraph:” State pension age rises: how to retire at 55, not 70″. The Government has decreed younger generations will work longer before claiming a pension. Luke O’Mahony, 26, will have to work until he is 70 – unless he follows our plan.
The Telegraph:” Osborne’s 13 crucial changes for 2014 and 2015″. We set out a timeline of when the Chancellor’s Autumn Statement initiatives will begin to affect you
The Telegraph:” Why the Autumn Statement was so disappointing for savers”. Official forecasts in George Osborne’s documents showed how Britons are saving less. Is it any wonder?
The Telegraph:” Autumn Statement impact: ‘We may never retire'”. Five-minute briefing: How those key measures will impact on Andrew and Katie Dang – and on you.
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