February 2014 - Charterbridge

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Monthly Archives: February 2014

Home ownership at lowest for 25 years as young feel squeeze

Mortgages & Residential Property Home ownership in England lowest for 25 years as young feel squeeze Statistics released from the latest housing survey from the Department for Communities and Local Government, covering 2012-13, reveal the proportion of homes lived in by owner-occupiers had dropped to 65.2% – down from 71% in 2003, and its lowest […]

HMRC trashes Moyles used car dealer scheme

The weekend’s press has created a new “poster boy” for the tax avoidance sector – in the shape of Chris Moyles. Jimmy Carr must be mightily relieved! Broadly speaking, the scheme adopted by Moyles (and hundreds of others – three were selected for attack by HMRC) involved them entering into a trade of selling second […]

Technical changes to Automatic Enrolment

For Company Directors and Managers dealing with AE, it’s important to be aware of the possible changes to regulations to simplify the assessment process. The Government has now published their response to the AE technical changes consultation and more specifically the exemption of certain categories of workers from the scope of AE. The following categories […]

A gap between DRAWDOWN rates and ANNUITIES is emerging

It always pays to watch the gap between corporate bond yields and gilt yields, because, all other things being equal, the wider the gap, the closer together are annuity rates (driven primarily by corporate bond yields) and drawdown limits (pegged to 15 year gilt yields). In August 2012, the maximum drawdown rate was 100% of […]

Managed Industrial Estate NOT ELIGIBLE for Business Property Relief

 The First-tier Tribunal has held that a trading estate management company did not qualify for business property relief on the basis that its activities were predominantly investment-related. It is well known that business property relief (BPR) is not available on transfers of business property in cases where the business in question consists ‘wholly or mainly’ […]

REMITTANCE BASIS CHARGE: OFFSHORE BOND OPPORTUNITY

A recent report carried out by the Financial Times provides an opportunity to explore a viable planning option for non UK domiciled clients.   According to the report nearly 6,000 of the wealthiest foreigners living in Britain paid £178 million in remittance basis charges in the calendar year 2012. This represented a 6% increase over the previous […]

European economy faces a ‘lost decade’

European economy faces a ‘lost decade’ A new US foreign policy study warns that Europe faces a “lost decade” of severe stagnation after the financial crisis, which will damage its capacity and will to shape world events. Although the collapse of the euro was avoided, “this should not be confused with success”, the Washington-based Brookings […]

Pension firms to be forced to disclose all fees

Pensions & Life Assurance Pension firms to be forced to disclose all fees The Office of Fair Trading has announced it has identified 18 separate transaction costs in relation to the pensions industry which the government may force the companies to reveal. The Daily Telegraph, p. 2 Also appeared in : The Times, p.1-2 Affordable […]