Tag Archives: General Election

More pension uncertainty

No sooner has the ink dried on the dramatic Budget proposals to remove the requirement to buy annuities with accrued pension monies than Ministers start talking about other possible changes – notably reducing the amount of tax relief available on pension contributions. According to figures published by HM Revenue & Customs, higher-rate taxpayers will by […]

Inheritance Tax – Watchout!

Synopsis: The freezing of the nil rate band has gone ahead. One of the Conservatives’ tax pledges in their draft economic manifesto was ‘We will raise the Inheritance Tax threshold to £1 million…’. No specific timing was given. With the focus on other issues – notably National Insurance – the idea has seemed to be […]

Budget report 2010 commentary

So, the chancellor has given his final Budget report before the next General Election. In summary the key highlights are: Pensions The Chancellor confirmed that, from 6 April 2011, individuals with gross incomes of £150,000 or more will have their tax relief restricted. From April 2011, those aged over 75 will pay no tax on […]

Budget Day Confirmed!

BUDGET 2010 Budget Day has been confirmed as 24 March. So at long last we have a Budget Day -Wednesday 24 March. As with the timing of general elections, governments of both hues seem to relish the power to keep a key date under wraps for as long as possible. In this instance the politicians’ […]

Year End Planning

March is a key month in which to consider tax planning to maximise the use of an individual’s allowances, reliefs, exemptions etc for the current tax year.  Some of these will be lost if not used before the tax year end. As well as last minute tax planning for 2009/10, now is also a good […]