The tax year end is approaching and calls for a review of personal finances.
The child benefit tax charge, introduced on 7 January, affects over one million families. A family with two children could see their annual spendable income drop by up to £1,752 p.a. in 2013/14; those with three children could lose £2,449 pa. At a time when prices are rising faster than incomes, it will be critical […]
UK Income Tax rates are now at their highest since 1988, with those earning more than £150,000 paying tax at 50 percent. As a result, the recent 31 January payment will have proved very expensive for many. Here are our “top tips” for saving tax in the year to come. These could help reduce next […]
With tax rates on the rise, now more than ever it pays to shelter your investments in an ISA and pay no tax on any gains you make. And with the Government announcing a new higher ISA allowance of £10,200 each year – available right now if you are over 50 – ISAs are even […]
The Government has announced that, from 6th April 2011 onwards, it intends to restrict higher rate tax relief on pension contributions for individuals with an annual income of £150,000 or more. In anticipation of this change, there is a special annual allowance and associated tax charge from 2009-2010 that applies in respect of individuals who […]