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, […]
Probate tax – England The Government has announced that the cost of obtaining probate of deceaseds’ estates is to be changed and will in future be linked to the value of the estate.
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 […]
With the Chancellor’s budget on 16th March and the tax year end on 5th April, now is the time to take a quick look at a few financial planning hot topics.
Give the Chancellor 8/10 for his April pension reforms New pension reforms came into being on 6th April 2015. The materially greater freedoms that now exist have much appeal, yet they come with greatly increased complexity both in understanding and in execution. On balance these reforms are welcome, but the need for high quality advice […]