Archive
Autumn Budget 2018
Autumn Budget 2018 (Opens in a new window)
Autumn Budget 2017
Autumn Budget 2017 (PDF opens in a new window)
Budget 2017
The headlines following the Budget were dominated by the proposed 2% rise in the main rate of Class 4 national insurance (NIC) which is paid by the self-employed. This appeared to break a Conservative Party manifesto pledge not to raise the rate of income tax, national insurance or VAT in this Parliament, ie before May 2020.
Read the full article here (opens as a PDF in a new window)
Budget 2016
George Osborne delivered his eighth Budget on 16th March. Pensions managed to remain unchanged for the first time in living memory with the headlines being grabbed by a cut in capital gains tax rates and elsewhere by a new tax on sugary drinks. The wider implications of some of the measures announced will become clearer over the coming weeks. In the meantime we summarise the main proposals that may affect you.
Read the full article here (opens as a PDF in a new window)
ALM News Summer Budget 2015
The standard personal allowance is increasing to £11,000 for 2016/17 and there is a further increase to £11,200 for 2017/18 (both £200 higher than previously announced). The 2016/17 increase will be accompanied by a rise in the basic rate band so that anyone with total income in excess of £43,000 will be a higher rate taxpayer. The 2017/18 increase is accompanied by a further rise in the basic rate band and anyone with total income in excess of £43,600 will be a higher rate taxpayer. The personal allowances will continue to be reduced by £1 for every £2 by which the taxpayer’s income exceeds £100,000. For those with income above £150,000 the additional rate of tax remains at 45%.
Read the full article here (opens as PDF)
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 Allowances will continue to be withdrawn for those whose total income exceeds £100,000.
Read more ( opens as a PDF new window)...
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, provides a brief update on the proposed new cap on offsetting losses (potentially including Lloyd’s losses) against other income and a brief resume on loss relief claims for the 2010 account.
Read the full article here...
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
Pensions - Annual Allowance
The Government has now set out plans for changes in tax relief for pension contributions from
April 2011. There is to be further consultation on several aspects of the reforms but there has
been a welcome announcement regarding the Annual Allowance. - click here to read the full newsletter
ALM News October 2010
Following his article in the August issue of ALM News on Capital Gains Tax and Inheritance Tax, further
information on Inheritance Tax is provided here by Ian Wadhams - click here to read the full article
ALM News August 2010
The second Finance Bill 2010 included further changes to Capital Gains Tax (CGT). An update on CGT
for Lloyd’s Names, and general information on lifetime planning for Inheritance Tax (IHT), is provided
here by Ian Wadhams - click here to read the full article.
ALM News - June / July 2010
Potential impacts of the Emergency Budget upon 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.The Emergency
Budget proposals have already been widely published, but areas that will be of particular interest to
members of Lloyd’s are summarised in this article.
ALM News April 2010
Potential impacts of the Finance Bill 2010 upon 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 story by clicking here.
ALM website:
ALM News February 2010
Tax Relief on Pension Contributions - click here for the PDF
ALM News August 2009
ALM News August 2009 - click here to open the full article in PDF format. (opens in a new window)
ALM Article 2009
Alternative Funding for Pension Contributions Out of the 2006 Profit click here to read more.
ALM Article August 2008
Reply to query in Taxation magazine 7 August 2008
Please click here to read reply to a query published in Taxation
Email to The Telegraph 7 November 2008
Sir,
Below is an email that I have today sent to the Head of the Technical Department at the Chartered Institute of Taxation, which you may find of interest.
Notes for Journalists
The Partners are available for press comment and content for articles. For more information please contact Ian Wadhams directly on ian.wadhams@ingenhaag.co.uk. Thank you.
Partner Photos for Press Use:
