Archived Legal Articles from 2016

Financial Services

November

Capital Gains Tax now raises more revenue than Inheritance Tax

22/11/16

HMRC has recently published figures that show that in 2014/15 £6.9 billion of Capital Gains Tax (CGT) was paid by 220,000 individuals. This was a 22% increase on the previous year and compares to £3.8 billion Inheritance Tax paid during the 2014/15 tax year. CGT collection levels are…

Secondary Annuity Market plans scrapped

03/11/16

The government has confirmed that it has scrapped its plans to create a secondary annuity market. The reason behind this is that they did not believe that sufficient consumer protection could be built into this market development. The government had consulted with the industry and regulators…

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August

Bank of England Cuts Interest Rates

05/08/16

The Bank of England Monetary Policy Committee has cut the base rate to 0.25%. But what does this mean for savers and investors? Interest rates on deposit-based accounts have been falling for some time. There has been a steady increase over the past two weeks in the number of providers offering…

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