Investors bear brunt of the Budget blues

Article Abstract:

The United Kingdom Jul 1997 Budget will affect investors in a number of ways. The abolition of dividend tax credits hits people with personal pensions by reducing income from UK stocks. Their pensions will be reduced if they do not boost contributions. Stamp duty on higher-priced houses has been increased, and tax relief for mortgage interest has been reduced. Borrowers will be worse hit by interest rate rises than by the Budget. Other measures include the end of tax relief for older people paying for private medical insurance.

Personal Financial Mgmt, Legislative Bodies, Budget, Economic policy

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Safeguard assets for future generations

Article Abstract:

UK Investors should plan their financial affairs so that any money they leave to relatives benefits them rather than the tax authorities. One method of doing this is to set up a trust. They can also make gifts to children and these are free of tax if the donor survives for seven years after making the gift. Assets used for business purposes are not subject to inheritance tax. Investors can purchase shares quoted on the Alternative Investment Market which qualify for relief of inheritance tax.

Personal Tax Planning, Inheritance tax

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Preparing for the Budget and beyond

Article Abstract:

The response of the UK Labor party to the Nov 1996 budget will give an indication of the party's policies if elected. Investors do not have to act fast to changes in income tax but they should do so if reliefs are given for capital gains tax or inheritance tax since they may not last long if Labor is elected. The Labor party may also changes tax rules affecting non-residents in the UK, and investors should take specialist advice on this issue.

Public Finance Activities, Tax Administration

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