Private clients and entrepreneurs tax planning tips скачать в хорошем качестве

Private clients and entrepreneurs tax planning tips

The webinar focused on tax planning for private clients and entrepreneurs, covering recent changes in tax regulations and their implications. Our speakers Adam Thompson and Matt King discussed various tax-related topics, including income tax, national insurance, capital gains tax, inheritance tax, and investment strategies. Highlighting the importance of maximising allowances, considering tax-efficient investments, and planning for the future. The session also touched on the impact of the recent budget on financial planning and wealth management. Highlights The budget presented us with fewer changes than expected, but some thresholds and rates were frozen until 2031. Income tax rates remain unchanged, but property and savings income will see a 2% surcharge from April 2027. Dividend tax rates will increase by 2% for basic and higher rate taxpayers. National Insurance thresholds and rates are frozen until 2031, with some inflationary increases. Capital gains tax relief for employee ownership trusts reduced from 100% to 50%. Inheritance tax thresholds are frozen until 2031, with some changes to agricultural and business property relief. Pension contributions will form part of the estate for inheritance tax purposes from April 2027. ISA allowances will change in 2027, with a cap on cash ISAs for those under 65. Venture Capital Trusts (VCT) tax relief will reduce from 30% to 20% in April 2026. Key quotes "The fiscal drag means that more and more people over time will get dragged into the higher rates, additional rates of tax." "If you've got unused years that you're still able to top up, I'd advise you do that prior to the start of the new tax year." Action items Consider incorporating property portfolios due to upcoming tax changes. Review bank deposits and explore better options for savings. Maximise personal, property, and savings allowances. Consider tax-efficient investments like EIS and SEIS. Plan for inheritance tax by utilizing annual exemptions and small gift allowances. Review pension contributions and consider junior ISAs for children. (Nothing in this article constitutes professional advice and we take no responsibility for anyone taking any action or refraining from taking action as a result of anything contained in this recording. You should always seek professional advice that is relevant to your affairs and your attitude to risk)