Category: pensions & Tax & Uncategorized
After several years of speculation, according to a recent BT Home article, fears are growing that Chancellor George Osborne is finally poised to take away higher-rate tax relief for pension contributions. If this is the case, then the vital cut-off date for investors could well be Wednesday 16th March – the day of his next Budget.
Category: Annual Allowance & pensions & Tax & Uncategorized
Think back to the Chancellor’s budget proposals in July last year, and you may remember an announcement about changes to the annual pension allowance. Well, that change is set to come into effect at the start of the new tax year on 6th April 2016. It therefore seems like a good idea for a bit of a refresher on what those changes are and what they potentially mean for you.
Category: pensions & Tax & Uncategorized
Given recent comment from George Osborne, and mentions of the same during the Autumn Statement, it appears as though pension tax is set for a shake-up in 2016. With that in mind, there appears to be a potential opportunity for higher-rate taxpayers to make the most of their savings while the good times last.
Category: pensions & Tax & Uncategorized
The Government has recently finished a consultation looking at how pension taxation could work in the future. The Chancellor, George Osborne, has said that he expects to reveal the findings and the direction he is going to take during the March Budget. But is there any way to take an advance look at the situation? What has the Chancellor considered and what might his decision be in March?
Category: savings & state pensions & Tax & Uncategorized
As usual, the coming year will see plenty of shifts in the financial planning landscape for all of us. Changes come about largely as a result of new legislation or policy introductions and, whilst there isn’t anything quite as dramatic as 2015’s introduction of pension freedoms on the horizon, there’s still plenty to look out for in 2016. Here are three of the biggest changes you may wish to familiarise yourself with.
Category: Accounting & Tax & Uncategorized
With the deadline for online tax returns fast approaching (31st January 2016 for the tax year April 2014 – April 2015), HMRC have again shared their top ten terrible tax excuses. Ranging from paperwork eating pets to people who were simply out of the country, the list is comprised completely of unsuccessful appeals against penalties imposed by HMRC.
