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Avail 2016/17 Tax Year Update

We are pleased to confirm that the Avail Suitability System is now fully updated for the 2016/17 tax year.

Updates include:

Changes reflecting the reduced Lifetime allowance for all pension products.

  • Changes to Pension Credit and removal of references to Savings Credit  for all pension products.
  • Addition of the Tapered Annual Allowance for high earners for all pension products.
  • Changes to CGT Rates from 18% and 28% to 10% and 20% for individuals.
  • References to tax years changes throughout the system from 2015/16 to 2016/17.
  • Changes to dividend taxation to include the new £5,000 dividend allowance and altered dividend tax rates for Collective Investments, Investment Trusts and Structured Products.
  • Changes to Gross payment of interest of Savings Income for Collective Investments, Investment Trusts and Structured Products.
  • Changes to Bare, Discretionary and Life Interest trusts reflecting the new Dividend taxation rules for trusts, whether retained in the trust or “looked through” for income purposes.
  • Changes to Gross payment of interest of Savings Income to Bare, Discretionary and Life Interest trusts.
  • Changes to Trustee CGT rate from 28% to 20%.
  • Removal of the 45% tax-charge on death after age 75 for beneficiaries of Drawdown funds.
 
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