Tag Archives: Tax

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May Focus – Financial Advantages of Marriages and Civil Partnerships

With the Royal Wedding only a few days away, we want to enter into the spirit of this wonderful event and, in doing so, are prompted to reflect on the financial advantages (well, we would wouldn’t we!) of saying ‘I do’ … A marriage or civil partnership can be a beautiful union of minds and…
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April Focus – Taxation Rules on Pension Schemes

This Focus is necessarily somewhat longer than usual. It holds a very important message for anyone who is a member of a pension scheme. It is based on our understanding of taxation matters that involve quite complex rules. Money Purchase Pension Schemes – Death Benefits As discussed in our October 2017 Focus (recent Focuses can…
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March Focus – Your cash reserves

Following the financial crisis of 2008 when a number of big British banks came close to collapsing, the Financial Services Compensation Scheme (FSCS) was strengthened by the government to the extent that the FSCS currently guarantees the first £85,000 of a person’s cash savings per banking licence in total, and including interest. But what does…
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December Focus – The Last Autumn Statement

Not a vintage offering this, the last ever, Autumn Statement! Underwhelming for many, but there were some items on the vine that were worthy of harvesting regarding tax, savings, and pensions.         Here are some that might affect you:   – An increase in the tax-free personal allowance to £11,500 and the…
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Financial roundup – December 2016

We start our round-up of techie stuff with one announcement from last week’s Autumn Statement that restricted to GBP4,000 (cut from GBP10,000) the annual amount that can be returned from a pensioner’s income to the pension fund after drawdown has begun – with effect from April 2017. Then a reminder that the Succession (Scotland) Act…
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Markets Summary – December 2016

Well, for the second time this year the pollsters and the bookmakers had it spectacularly wrong. First Brexit, now President-elect Donald J Trump. By 306 Electoral College votes to 232 the 70-year-old billionaire overturned the predictions and beat Hillary Clinton. Yes, there is still the small matter of challenges to the result in three states,…
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November Focus – Pensions Lifetime Allowance

The pensions lifetime allowance (LTA), the amount savers can place in their pension pot and still claim tax relief, is now down to £1m – down from £1.8m when it was set just five years ago in 2011-12. Any savings in excess of the LTA will potentially attract tax at 55%! So is it the…
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