Tuesday, June 22nd, 2010
Chancellor George Osborne called it ‘the unavoidable budget’ but promised there would be no small print in his plan to clear the government’s budget deficit of £155bn over the next 4 years. Here is our summary of the June 2010 budget in easy to read points. Click headline above
Tags: Basic State Pension, Best UK ISA Funds, Capital Gains Tax, Certified Financial Planner, Free Banking, Income Tax, Maximum Pension Contribution, Pension Transfers, Pensions, Repossessed Spanish Property, Tax
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Tuesday, June 22nd, 2010
As part of today’s June 2010 budget changes, the Chancellor George Osborne has announced an increase in Capital Gains Tax for higher earners from 18% to 28%, effective from midnight tonight. This will relate to higher earners who earn more than £44,875 (i.e. who have taxable income of more than £37,400). For those paying the basic rate [...]
Tags: Capital Gains Tax, Certified Financial Planner, Critical Illness Insurance, Efficient Tax Planning, Occupational Pension Scheme, Office of Fair Trading, Pension Transfers, Retirement Pension, Retirement Planning, Tax
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Tuesday, June 22nd, 2010
Today’s June 2010 budget changes should include an increase of £1,000 in the personal Income Tax allowance for basic rate taxpayers. This increase in Income Tax allowance means that all those earning up to £37,400 will have their tax-free Income Tax personal allowance increased by 15.4%, from £6,475 to £7,475.
Tags: BBC, Best UK Mortgage Deals, Budget, Budget June 2010, Capital Gains Tax, Certified Financial Planner, Free Banking, Income Tax, Income Tax Allowances, Pension Transfers, Personal Tax, Repossessed Spanish Property, State Pension, Tax
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Wednesday, June 2nd, 2010
Elderly care home residents could face a hefty capital gains tax bill on selling their home. Are you or your family affected? Click on headline to read more.
Tags: Avoid Tax, Best Mortgage Deal, Capital Gains Tax, Certified Financial Planner, Critical Illness Insurance, Efficient Tax Planning, Financial Planning, HMRC, Pension Transfers, Pensions Annuities, Repossessed Spanish Property, Tax, Tax Guidelines
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Monday, April 19th, 2010
Pension advice is crucial for those considering transferring a pension – especially those in an occupational pension scheme who are being encouraged to transfer by an employer. Care is needed, though, as the standards of pension advice vary widely, and are still causing concern to the Office of Fair Trading (OFT).
Tags: AIB Bank, Commercial Loans, Company Pensions, Investment News, ISAs, Life Policy, Mortgage Protection Insurance, Mortgage Rates, Occupational Pension Scheme, Occupational Pensions, Office of Fair Trading, OFT, Pension Advice, Pension Transfer Advice, Pension Transfers, Private Pension, Private Pensions, Spanish Investment, SVR
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Thursday, March 11th, 2010
Government plans to review tax on high earners could hit many on salaries lower than the £130,000 target group. Those who receive a performance-related bonus, for instance, could be subject to hefty tax recovery charges.
Tags: AIB Bank, Co-Operative Bank, Commercial Loans, Company Pension Scheme, Company Pensions, Free Banking, Income Tax, Maximum Pension Contribution, Pension Transfers, Pensions, Tax
Posted in Pensions News | 1 Comment »
Tuesday, February 23rd, 2010
It is important, when considering a pension transfer, that the correct assessment has been carried out on your existing pension, as well as a pension review on the pension product or wrapper that you are moving to.
Tags: AIB Bank, Co-Operative Bank, Commercial Loans, Company Pension Scheme, Company Pensions, Investment News, Life Policy, Marks & Spencer, Maxi ISA Contribution, Money Purchase Pension Scheme, Occupational Pension Scheme, Pension Advice, Pension Review, Pension Scheme, Pension Transfer Advice, Pension Transfers, Pensions News
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Wednesday, December 16th, 2009
Not everything that has come from the Chancellor in the past year has been bad news for high earners.
Last April’s Budget 2009 extended the facility for employers to carry back trading losses for up to three years.
Tags: London Stock Exchange, Maximum Pension Contribution, Pension Contributions, Pension Transfers, Pensions, Pensions Planning, Repossessed Spanish Property, Tax, Tax Efficiency, Tax Relief
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Friday, December 11th, 2009
With an increasing volume of information and advice from HMRC now being offered not face to face, but by telephone, the onus is on the caller to record in writing the tax advice they are given, if they wish to depend on that advice at a later date.
In such situations, problems arise when a taxpayer acts (or refrains from acting) based on undocumented telephone advice, or on their recollection of what HMRC said, according to the Low Incomes Tax Reform Group (LITRG).
Tags: Financial Planning, HMRC, LITRG, Low Income Tax Reform Group, Pension Transfers, Personal Tax, Repossessed Spanish Property, Revenue Commission, Revenue Commissioners, State Pension, Tax, Variable Rate Mortgages, VCT, Wealth Strategies, Whole Of Life Insurance
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Monday, December 7th, 2009
Many claimants seeking tax credits may miss out on up to £500 of their entitlements, because the Revenue (HMRC) is failing to make them aware of their full entitlements.
While backdating of tax claims is automatic for people with children, there is no automatic backdating of tax credit claims for people with no children, who were in work prior to submitting a claim – even though they are entitled to backdate for up to three months, according to the Low Incomes Tax Reform Group (LITRG).
Tags: Financial Planning, HMRC, LITRG, Low Income Tax Reform Group, National Association of Pension Funds NAPF, Pension Transfers, Pensions Annuities, Reclaim Income Tax, Repossessed Spanish Property, Tax, Tax Guidelines, Variable Rate Mortgages, VCT
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