Reports & Archives
From time to time the Partners at Ingenhaag publish client memos and articles.

You can review the list of memos and articles in the column to the left and view the entire content for each simply by clicking on the link.



YEAR END TAX UPDATE 2011/12

In advance of the 2012 Budget on 21st March 2012 we summarise some topical taxissues that we hope will be of interest to you. Please contact your usual partner for anyfurther information or explanations.

click here to read more (PDF opens in a new window)

 
Autumn Statement 2011
The Chancellor delivered his Autumn Statement on 29th November. His statement contained
only a few tax changes, but we will not know the fine details of these until the draft Finance Bill
is published on 6th December. In the meantime, the following may be of interest to you -  click here to read more.
 
CHANGES TO PENSION SCHEMES
IMPORTANT UPDATE:
CHANGES TO PENSION SCHEMES
ACTION MAY BE REQUIRED BY 5TH APRIL 2012 - Click here to read the full article.
 
2011 - Budget
comments on the 2011 budget - click here to view PDF
 
Tax Increases Again From 6th April 2011

Tax Increases Again From 6th April 2011

you can read the PDF report by clicking here.

 
2010 Budget - June
Comments on the 2010 Budget - June - click here to view the PDF
 
2010 Budget - March
Comments on the 2010 Budget - March - click here to view the PDF
 
Budget 2009
Budget report 2009 - click here
 
Gifting income to avoid inheritance tax

We are increasingly asked about ways to mitigate inheritance tax (IHT) and from our discussions with clients it is apparent that the exemption available for Normal Expenditure Out of Income is not widely known.

 

Any income that is not required to maintain your usual standard of living, and is therefore accumulated, swells your estate and so will attract IHT. By the simple expedient of regularly giving away surplus income IHT will be avoided.

Gifts must be unconditional, made out of income not capital and leave you with sufficient income to maintain your normal standard of living.

A one off payment will not be exempt. The gifts must be regular. However, the first payment will be allowed if you can show a settled intention to give sums over a period of time.

Gifts qualifying for this exemption fall out of the IHT net immediately. It is not necessary for the donor to survive for seven years.

How can we help?

We obviously have accurate records of your income and we maintain a permanent record of transfers of capital. We have produced a pro-forma which you can use to record your household expenditure each year which we can maintain with our other permanent records. If you would like a copy, or any other IHT planning advice, please contact your usual partner.

FOR GENERAL INFORMATION ONLY

Please note that this Memorandum is not intended to give specific technical advice and it should not be construed as doing so. It is designed merely to alert clients to some of the issues. It is not intended to give exhaustive coverage of the topic.

Professional advice should always be sought before action is either taken or refrained from as a result of information contained herein.

 
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