Money Corner

Money Corner: All A Bit Unnecessary

Money Corner: All A Bit Unnecessary

‘Tax doesn’t have to be taxing’ was the slogan that HMRC used 20 years ago to raise awareness about the system of Self-Assessment, but some of the recent developments around tax and divorce have me scratching my head about this maxim. No gain no loss transfers and the former

Money Corner: New Tax Landscape for High Net Worth Divorces

Money Corner: New Tax Landscape for High Net Worth Divorces

The dust has (almost) settled following the Autumn Budget and April 2025 will bring about one of the biggest overhauls of the way the UK taxes foreign individuals in decades. This piece covers the changes to the non-domicile (non-dom) regime and the other smaller measures announced in the budget that

Money Corner: Spring (Cleaning) Budget: Out with the LTAs and in with the LSAs

Money Corner: Spring (Cleaning) Budget: Out with the LTAs and in with the LSAs

When the Chancellor of the Exchequer received his copy of the Spring 2023 edition of the FRJ, I can only imagine how he chuckled when he reached page 19 and found an article titled ‘Pensions on Divorce – Lifetime Allowance [LTA] Tax Issues’. That was a 4-page article – submitted by George

Money Corner: Financial Planning for Non-UK Resident Beneficiaries of Pension Shares

Money Corner: Financial Planning for Non-UK Resident Beneficiaries of Pension Shares

Introduction Once a pension sharing order is obtained from the courts in England and Wales, the division of pension assets between UK residents is usually straightforward. The beneficiary will typically have a pension in the UK that can receive their share. Failing this, if they don’t already have a

Money Corner: Welcome Change to Capital Gains Tax Rules on Divorce

Money Corner: Welcome Change to Capital Gains Tax Rules on Divorce

For many years, capital gains tax (CGT) has often been a major stumbling block in financial settlements. Transferring assets around could give rise to tax liabilities in the hands of the transferring spouse who is usually not receiving any sales proceeds with which to pay what is known as a

Money Corner: Mortgage Capacity from a Broker’s Perspective

Money Corner: Mortgage Capacity from a Broker’s Perspective

The last 12 months has seen substantial changes in the mortgage market, the products that are available and adjustments to the way in which lenders assess affordability for mortgages. It has been widely reported that the interest rates on mortgages are currently at their highest level for 14 years, with

Money Corner: Did the 2022 Permacrisis Reduce Your Client’s Pension Credit?

Money Corner: Did the 2022 Permacrisis Reduce Your Client’s Pension Credit?

2022, a year that we all hoped would usher in a return to normal following the COVID-19 pandemic, turned out to be full of seismic shifts, and it was certainly a stark reminder that the value of investments can go down as well as up. Investors had to face the