Reducing CGT exposure

Couples with sizeable assets such as property or shares might consider joint ownership where the asset is likely to result in a capital gain. This way they can take advantage of both personal allowances, currently, £10,100 per person, and realise up to £20,200 of gains before capital gains tax (CGT) becomes payable. Remember also that[…]

Posted in Tax

New cap for tax relief on pensions

The amount that people can add to their pension funds on which they can receive tax relief is to be reduced, the Treasury has confirmed. The annual limit is to come down from £255,000 to £50,000. Also to be reduced is the lifetime allowance on money that can be saved in a pension fund for[…]