We’ve been challenged by pension planning on Monevator before. In particular you may recall my previous post on a fictional middle-class duo, Sarah and Stephen, and their pensions-and-IHT-planning saga. Near the end of that piece, I read the vibes coming from the presumed shoe-in of an incoming Labour government and confidently declared: Nor do I … Read more
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Pakistan has scrapped plans for a new tax on banks’ profits on government debt, just days before a critical deadline and following a backlash from lenders. The proposed levy was intended to boost the south … Read more
With Republicans appearing to have secured a sweep of the White House and both chambers of Congress, the most immediate question for many financial advisors and their clients is what impact the election results will have on the scheduled expiration of the Tax Cuts & Jobs Act (TCJA) at the end of 2025. At a … Read more
The IRS has announced new income limits for its seven tax brackets for 2025, with income thresholds increased by about 2.7% to adjust for inflation. This follows a 5.4% increase in 2024 and a historically large 7% bump in 2023. Reaching a top one percent income is becoming more challenging given the threshold keeps increasing … Read more
As the season changes, a new budget has been announced by the government. Despite rumours of a Capital Gains Tax (CGT) increase for second homeowners, on the 30th of October 2024, Chancellor Rachel Reeves declared that the rate for CGT on residential properties will not change. The Capital Gains Tax rates for residential properties will … Read more
