News
November 2005
Pre-Budget U-turn on Residential Property
Gordon Brown announces tax measures that will apply to direct investment in residential property and other ‘esoteric’ investments held by pension schemes in the post A-Day regime. The proposals are seen as a U-turn by the treasury and effectively eliminate any benefit of holding residential property or other ‘real’ assets.
The chancellor also introduces the concept of Real Estate Investments Trusts (REITS), which are pooled investments that escape the punitive tax measures and allow investors to access indirect investment in the residential property market. Full details to follow.
The pre-budget report also outlined the intention to prevent ‘recycling’ of tax-free cash in order to generate additional tax-free cash. It is yet unclear how this will operate in practice.
October 2005
HMRC lose IHT test case
IFAs are using Paraplanning Direct for many different reasons. Some are ‘victims’ of their own success and have insufficient resources to service the needs of their clients. Others understand the benefits of having a paraplanner, but are unwilling or unable to employ a paraplanner of sufficient professional standing. Another group recognise that they have areas of technical weakness, but would prefer not to lose clients to other IFAs. Whatever your needs, we will only undertake work unless we believe that we can add profitability to your business and value to your clients.