Investments

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New recognised exchanges

FA 2005, s 48A has rules for the taxation of 'alternative finance investment bonds' — a Shari'a compliant security, which is known as 'sukuk' and which is economically equivalent to conventional interest-bearing securities.
A condition of the tax treatment of such bonds is that they are listed on a 'recognised stock exchange'. FA 2005, s 48A(3) allows for an Order to be made specifying such exchanges and HMRC have now designated the following stock exchanges as recognised stock exchanges for the purposes only of FA 2005, s 48A.

Pension charge

Voluntary contributions - Pensions Bill

The eighth and ninth sittings of the Finance Bill are reported by ALLISON PLAGER.

JOHN NUGENT considers tax residence in the Isle of Man for UK individuals and their business interests.

PENNY BATES presents an idiot's guide to the taxation of settlors and beneficiaries of offshore trusts.

MALCOLM COUCH and BRIAN JOHNSON explain recent airborne developments on the Isle of Man.

New look R40

HMRC have redesigned the R40 'Tax repayment form'. This form is used by around 600,000 people every year, mainly pensioners, married women and children, to claim back tax deducted from bank or building society interest, or other investment income.
The new four-page form has the same look and feel as the short self assessment tax return, introduced last year, and follows a successful two-year trial involving around 1,000 people.

Recent tax measures are not making life any easier for small and medium-sized enterprises, warns JOHN ENDACOTT.

MARIA KITT explores the opportunities and pitfalls presented by real estate investment trusts.

Recent HMRC research looked into people's perceptions of capital gains tax and why they create trusts. ALLISON PLAGER reports.

MIKE TRUMAN explains the implications of the PBR for those taking alternatively secured pensions in retirement, and insuring their lives through pension contracts.

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