Transferring Pensions

Most people switch jobs several times during their working life. However, when you change employers, it is also worth thinking about the pension savings that you have accrued. You might … Continue reading “Transferring Pensions”

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Your choices at Retirement

When you reach retirement age, you have important choices to make. Reforms introduced from April 2015 drastically increased the amount of freedom and choice available for pension savers. Individuals can … Continue reading “Your choices at Retirement”

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An overview of a SIPP

A Self-Invested Personal Pension (SIPP) is a tax-efficient wrapper – a particular type of pension – that sits around your retirement fund, allowing you to select from a wide range … Continue reading “An overview of a SIPP”

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Budget 2016

The Budget proved something of a mixed blessing for UK businesses. The headline rate of corporation tax will be reduced from its current level of 20% to 17% by 2020. … Continue reading “Budget 2016”

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Charitable donations

Donations to charity via Gift aid qualify for tax relief at the donor’s highest marginal rate, and donations made before 31 January of the following tax year or the date … Continue reading “Charitable donations”

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Personal Allowance

Income up to the value of the Personal Allowance is tax-free, but any unused personal allowance cannot be carried forward to the next tax year, so the message is “use … Continue reading “Personal Allowance”

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Transferring income-producing assets

One way for spouses to ensure that both of their personal allowances are utilised is to transfer income-producing assets from one to the other. Similarly, such transfers will enable spouses … Continue reading “Transferring income-producing assets”

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Inheritance tax exemptions

Gifts up to the value of £3,000 can be made in each tax year without any tax consequences, and any unused entitlement can be carried forward for one year. In … Continue reading “Inheritance tax exemptions”

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Using the pension allowance

Pension contributions are the most tax-efficient form of investment, and currently qualify for tax relief at the saver’s highest marginal rate of tax. However, the cost to the Government of … Continue reading “Using the pension allowance”

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Dividend tax changes

The system of taxing dividends on shares will change with effect from 6 April and, depending on individual circumstances, it could make sense for business owners either to accelerate payments … Continue reading “Dividend tax changes”

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“Flexible” ISAs

Under the current rules, if an investor wants to withdraw funds from an ISA and then replace those funds, this will count as an additional ISA investment, which could exceed … Continue reading ““Flexible” ISAs”

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The end of the tax return?

HM Revenue & Customs has stated its aim that within the next four years, tax reporting should become almost entirely digital. What should make this possible is that much of … Continue reading “The end of the tax return?”

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