How to stay ahead of a sneaky chancellor

Article Abstract:

The United Kingdom chancellor, Gordon Brown, could introduce new tax measures in Mar 1999, which may include closing tax loopholes. No measures were announced in Nov 1998, but this may be because he preferred not to warn taxpayers. Taxpayers should assess their inheritance tax position since potentially exempt transfers may be abolished. There could also be actions on trusts used for tax planning. Tax relief is likely to continue for pension contributions, but it may be restricted to the basic tax rate, and the tax free lump sum may no longer be available for those with personal pensions.

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Breaking the Isa

Article Abstract:

United Kingdom individual savings accounts have sold well, but investors are confused about the rules relating to these tax-free accounts. Isas replace Tessas and Peps, which were seen as too expensive for the Treasury. There are three components to Isas, cash, insurance and stocks and shares, and there are also maxi and mini Isas with different limits. Mini Isas offer freedom to use different providers specialising in each component, but their limits are lower, and drop after 1999-2000.

Savings accounts

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