Only one change was announced in relation to pensions, and this relates to contribution limits. The current annual contribution allowance is £40,000, but this reduces to £10,000 in cases where the pension holder has begun drawing down income (as opposed to tax-free cash) from a ‘money purchase’ pension. This £10,000 limit is now to be […]
Philip Hammond’s first Autumn Statement didn’t contain any major tax or pensions changes that have any immediate impact for you. This means we can plan for the tax year end with confidence and clarity.
As from April 2017, a new variant of the ISA will become available to investors under the age of 40, namely the Lifetime ISA, or ‘LISA’.
The changes to stamp duty on residential properties announced by the Chancellor in his Autumn Statement will reduce the cost of this tax for the great majority of people but will have severely negative consequences for the value of more expensive properties.
In the Budget announcement yesterday (Wednesday 19 March), the Chancellor outlined plans for National Savings & Investments (NS&I) to help support savers. Firstly, NS&I will launch a special issue of a market-leading savings bond for people aged 65 and over which will go on sale during the final quarter of the financial year (January 2015), […]