News from the industry...

The value of pensions and investments and the income they produce can fall as well as rise. You may get back less than you invested.
Tax treatment varies according to individual circumstances and is subject to change.

Budget highlights:

First time buyers of residential property outside Scotland will pay no stamp duty land tax on the first £300,000 of the purchase price for a home, provided its value does not exceed £500,000.

The personal allowance will rise to £11,850 and the higher rate tax threshold for the UK (exclu... Read More

Autumn Budget update:

First budgets of a new parliament are traditionally the dramatic ones in which the Chancellor dispenses the unpalatable medicine of tax increases, because they are at the furthest point from the next election. However, for a variety of reasons, Mr Hammond did not follow the norm. Far from increas... Read More

Pension protection

There are some government pension protection schemes available to help savers affected by the reduction to the lifetime allowance pension savings limits.

Schemes such as Fixed Protection and Individual Protection can help restore your lifetime allowance to previous higher figures, provided... Read More

Lifetime Allowance

There is a limit to how much you can save into your total pension pot free-of-tax called the lifetime allowance. This was reduced to just £1million in April 2016.

At first glance, this headline figure seems substantial, but as an example, a doctor on the 1995 NHS pension scheme will hit t... Read More

Pension contributions – will you face higher taxes?

There have been a host of changes to the taxation of pension contributions which could affect the amount of tax you pay. Without careful management, you could breach new pensions savings limits and be liable for harsh tax penalties.

Annual Allowance
There is a maximu... Read More

Budget 2016: National Insurance contributions

Class 2 NICs will no longer apply to the self-employed from 2018. The current rate of £2.80 per week applies to self-employed workers who earn more than £5,965 a year.

Tax treatment varies according to individual circumstances and is subject to change.

... Read More

Budget 2016: Capital Gains Tax

The CGT due on investments will be cut from 28 per cent to 20 per cent for higher rate tax payers and from 18 per cent down to 10 per cent for basic rate tax payers from this April.

In a further blow to landlords, this new move will not apply to gains made on the sale... Read More

Budget 2016: Tax bands increased

The higher rate tax band will rise from £42,385 now to £45,000 in April 2017. The tax-free personal allowance will be increased from £11,000 in April 2016 to £11,500 in April 2017.

Tax treatment varies according to individual circumstances and is subject to change.

... Read More

Budget 2016: ISA increase

The standard ISA rate will be increased to £20,000 per year from April 2017 – up from £15,240.

Tax treatment varies according to individual circumstances and is subject to change.

... Read More

Budget 2016: Lifetime ISA

George Osborne announced a new savings product – the Lifetime ISA. From April 2017, adults under 40 can save up to £4,000 per year. Every £4 saved will be matched by £1 from the government, up to the age of 50.

The savings can be withdrawn tax-free if used toward... Read More