A politically safe budget. Having been rebuffed by younger voters in the June general election, the Government is understandably concerned to be seen to be addressing their needs, and this was reflected in the Chancellor’s November Budget announcements. Of particular concern has been the difficulty young people are experiencing in getting onto the housing ladder, […]
A new inheritance tax allowance was introduced in 2015. But the headlines that claim it will give people a £1 million nil-rate band need closer scrutiny.
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.
Andy Haldane, the Chief Economist at the Bank of England, complained recently that he did not understand pensions and then, as if to prove the point, went on to suggest that property might provide a better return than pension investment.
Pension lifetime allowance In an unexpected announcement, the maximum value of pension wealth which can be accumulated without incurring a 55% tax charge is to be reduced from £1.25 million to £1 million with effect from April 2016.