Budget 2014
The standard personal allowance is increasing to £10,000 for 2014/15, as previously announced. A further increase to £10,500 was announced for 2015/16.The 2014/15 increase will be accompanied by a reduction in the basic rate band so that anyone with total income in excess of £41,865 will be a higher rate taxpayer. The 2015/16 increase is accompanied by a smaller reduction in the basic rate band and anyone with total income in excess of £42,285 will be a higher rate taxpayer. Allowances will continue to be withdrawn for those whose total income exceeds £100,000.

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Budget 2013
Aspects of the Budget that may be of particular interest to Names are analysed here by Ian Wadhams, a Chartered Tax Adviser and Managing Partner of Ingenhaag LLP, independent specialist tax advisers to Names and private clients.

Read the full article here...
 
Chancellor’s Autumn Statement - December 2012
Aspects of the Autumn Statement that may be of particular interest to Names are analysed here by Ian Wadhams, a Chartered Tax Adviser and Managing Partner of Ingenhaag LLP, independent specialist tax advisers to Names and private clients, who may be contacted by telephone on 020 7626 6355.
Read the full article here...
 
Loss Relief and the Proposed New Cap - August 2012
Ian Wadhams, Managing Partner of Ingenhaag LLP, specialist tax advisers to Names and private clients, here provides a brief update on the proposed new cap on offsetting losses (potentially including
Lloyd’s losses) against other income and a brief resumee on loss relief claims for the 2010 account.

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ALM News April May 2012
Aspects of the Budget that may be of particular interest to Names are analysed here by Ian Wadhams, a Chartered Tax Adviser and Managing Partner of Ingenhaag LLP, independent specialist tax advisers to Names and private clients, who may be contacted by telephone on 020 7626 6355.

Read the full article here
 
ALM News February 2012
Up to and including 1971, underwriting profits were assessed on the preceding year basis. This was changed to the current year basis for 1972 which resulted in double assessment – both the 1971 and
1972 accounts were assessed in 1972/73. Ian Wadhams explains how to claim relief for this.

Read the full article here
 
ALM News December 2011
Following the Chancellor’s Autumn Statement at the end of November, HM Revenue & Customs issued draft legislation for the 2012 Finance Bill on 6 December 2011. Two measures therein are of direct
relevance to Lloyd’s: claims equalisation reserves and stop loss premiums. Ian Wadhams, Managing Partner of taxation advisers, Ingenhaag LLP, describes how these measures may affect relevant Names.

Read the full article here.
 
ALM News April 2011
Now that the top rate of income tax is 50%, supposedly on a ‘temporary’ basis, unlimited liability
Names who expect to pay the top rate, but who have not previously made use of Special Reserve Fund
(SRF) transfers, may wish to consider doing so. Ian Wadhams, Managing Partner of taxation advisers,
Ingenhaag LLP, sets out the relevant rules. Click here to read the full article
 
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