Views

Our latest news, views and opinions for the business, financial and investing sectors, including personal finance.

Beating the Child Benefit Tax Trap

15/2/18

As a reminder, where one parent earns above £50,000, a “high income child benefit tax charge” is levied on that earner with the effect that there is a 1% tax charge for every £100 that their income exceeds £50,000. By the time income reaches £60,000, the charge is equal to…
Read more

Why Make a Will?

24/10/17

Ahead of Will Aid in November, we look at the rules that apply on intestacy: where someone dies without making a Will, and some of the key reasons why it’s worth making a Will.  In England and Wales, the rules on intestacy were amended in October 2014, so that when…
Read more

Deferring the State Pension – is it worth it?

20/9/17

With the decline in active membership of final salary pension schemes and with its inflation-based increases, the state pension is becoming a more important part of retirement income for many clients reaching retirement. Of course, some clients have stopped working some years before state pension age (SPA) and here our…
Read more

Lasting Powers of Attorney – Registration Fees to fall

17/4/17

On 1 April 2017 the registration fee for a lasting power of attorney (LPA) or enduring power of attorney in England and Wales will reduce from £110 to £82. The fee for a repeat application to register an LPA will also fall from £55 to £41. According to the Office of the…
Read more

Pension Transfers in Ill Health – HMRC lose appeal in legal case

28/2/17

In the case of Mrs Staveley deceased, Mrs Staveley owned a “section 32” pension plan which she transferred into a personal pension plan with AXA. At the time the transfer occurred Mrs Staveley already knew she was in serious ill health and following her death shortly afterwards, HMRC claimed inheritance…
Read more

Small firms expect shift in retirement ages

28/2/17

The third Interim Report of the 2016 Smaller Firms Pension Survey, conducted by the Association of Consulting Actuaries, has found that over the last two years there has been a big shift in firms’ expectations of the typical retirement age of employees over the next decade or so as State…
Read more

Banning Pension Cold Calling

29/1/17

The advent of the Pension Freedom rules introduced in April 2015 has unfortunately led to an increase in the number of scams seeking to deprive clients of their pension funds.   Following a campaign launched by a Derbyshire-based financial adviser and which was supported by a number of industry bodies…
Read more

New Mothers missing out on State Pension Credits?

21/12/16

Since the High-Income Child Benefit Tax Charge was introduced in 2013, whereby families with a person earning over £50,000 are taxed on their Child Benefit, many mothers have chosen not to claim Child Benefit.Under the current National Insurance system, a parent – usually a mother – receiving Child Benefit for…
Read more

Autumn Statement: Old News, New News, Bad News

21/12/16

The Old NewsThe new Chancellor’s first (and last) Autumn Statement contained little to interest us from a personal finance perspective. As usual, the Government confirmed several changes that had already been announced some time ago, including:The rise in the standard personal allowance to £11,500 and the increase in the 20%…
Read more

FSCS Deposit Protection Limit set to increase

21/12/16

In July 2015, the level of Financial Services Compensation Scheme (FSCS) protection for depositors was cut by £10,000 to £75,000. The reduction was the result of the review requirements under the European Deposit Guarantee Schemes Directive (EDGSD). The Directive specified a minimum level of €100,000 or the local currency equivalent.…
Read more
The FCA does not regulate Tax Planning.
Previous page