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News review: mansion tax, will writing, assisted suicide

Tories will not tax expensive properties, announces prime minister

30 September 2013

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MANSION TAX

A tax on high-priced properties will not be introduced by the Conservatives if the coalition government is re-elected. Following mansion tax proposals from both Labour and the Lib Dems, the prime minister has ruled out the idea, reports This is Money.

 

WILL WRITING

According to Legal Futures, recently published Legal Services Board papers claim its investigation into whether general legal advice should become a reserved activity has folded, and probate may be taken off the list.

 

ASSISTED SUICIDE

Lara Giddings, Tasmania's premier, has accepted the state's Voluntary Assisted Dying Bill 2013 could encourage "death tourism", reports News.com.au. Potential euthanasia candidates would only have to live in Tasmania for a month.

 

ACQUISITION

Standard Life Wealth has increased its assets to £5.5bn having now completed its acquisition of Newton Private Clients, reports New Model Adviser. The multi-billion charity business was not part of the deal.

 

PENSIONS

The National Employment Savings Trust has found that fewer people (9 per cent) than expected are opting out of new workplace pensions, reports BBC News. The government had thought that a third would decide to leave.

 

PROPERTY

Royal Bank of Scotland and Lloyds Banking Group have signed up to the Help-to-Buy scheme, which helps people buy any home worth up to £600,000 with just a 5 per cent deposit, reports The Daily Telegraph. The scheme is set to launch in January, three months earlier than planned.

 

"SPECIAL" TAX BREAK

The prime minister has announced lower rate tax-paying couples who are married or in civil partnerships will be given a £1,000 transferable allowance, reports The Guardian. The tax break, to be introduced from April 2015, is more than what was proposed in the party's 2010 manifesto.

 

WEALTH MANAGEMENT

Julian Chillingworth, Rathbones' chief investment officer, had told the FT about his plans for expansion in the wealth management business.

 

RETIREMENT

The average British retiree brings home £15,776.27 a year, which is less than a 21-year-old graduate, according to Skipton Financial Services. Actuarial Post reports on the research that also shows one in six people are relying solely on their state pension to survive.

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Vulnerable Clients Tax & Wealth structuring Wills, Trusts & Probate