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Royal London wants review of capital gains change


The Government may have underestimated the impact of a change in corporation tax rules on individual savers, according to Royal London.

The November Budget wound down the ‘indexation allowance’ for capital gains from 2018, aligning the treatment of companies with individuals, but meaning that investment growth in line with inflation would now be subject to tax.

Since the measure applied to corporations, the Government said it would have “no impact on individuals or households”.

However, Royal London claims that three million of its policyholders and an estimated 11 million savers in total would be hit, and the total bill could be around £250m.

Royal London is now calling for a review of the rules, after seeing a standardised letter responding to public enquiries about the change, in which the Government acknowledges it will likely have a “small” impact on savers.

 Royal London director of policy Steve Webb says: “MPs have clearly been misled by the information which the Treasury has put out on this issue.
“Far from having ‘no impact’ on households, this stealth tax will hurt around 11 million savers.   If MPs had been told this from day one there would have been much more opposition to this measure.  There is still time for Parliament to scrutinise this new tax and stand up for small savers up and down the country”.


Keys, buy to let, landlord, BTL

Billions in buy-to-let tax relief available despite changes

Buy-to-let landlords will enjoy £16.7bn of tax relief even after the government’s changes are fully phased in by 2020, according to research by estate agent ludlowthompson. The reliefs on offer to investors are being reduced on a phased basis. The Treasury has said it expects the amount of tax it collects from property investors to […]


Capital’s FTB’s ‘see little benefit of stamp duty cut’

Just 387 properties in inner london are stamp duty exempt for first-time buyers, according to research from online estate agent Purchases of up to £300,000 no longer incur stamp duty for first-time buyers following changes made in the Budget. No tax is paid on the first £300,000 of purchases worth up to £500,000 either. […]


Landlord jailed for dodging capital gains tax

A Hampshire landlord who dodged £157,725 of capital gains tax has been jailed for two years and three months. A HM Revenue and Customs investigation found Richard Fuller, 53, did not declare profit from selling properties around Aldershot between 2006 and 2013. Fuller was arrested at Gatwick Airport in October 2014 after a holiday to […]

Identifying best-in-class UK stocks — Mark Martin, Neptune UK Opportunities Fund

FE Alpha Manager Mark Martin assumed management of the multi-cap UK Opportunities Fund at the beginning of February. As manager of the highly regarded UK Mid Cap Fund, Martin has begun restructuring the new portfolio to focus on our very best UK stock ideas from across the FTSE All-Share Index. In this video, update Martin addresses:

– Themes informing the UK Opportunities Fund
– The multi-cap structure of the fund
– UK equity valuations


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