Tax Planning Archives - Page 2 of 2

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…

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%…

Autonomy Wealth Director gains Fellowship of the Personal Finance Society

7/12/16

We are delighted to announce that Autonomy Wealth Director, Craig Evans has gained Fellowship of the Personal Finance Society (PFS), which is the highest qualification awarded by the Chartered Insurance Institute.Craig comments: "Although gaining Chartered Financial Planner status in 2009 was a milestone in my financial planning career, I am…

New Dividend Tax Rules

18/11/16

The new system of dividend taxation introduced on 6th April 2016 radically reformed the way in which dividend income is taxed. As ever, there are winners and losers but as the new system is completely different to the old one, it can take a bit of understanding.The old 10% tax…

Inheritance tax rises to record levels

17/10/16

HMRC have just released details of how much inheritance tax (IHT) they have taken from the estates of deceased UK individuals and the total last year soared by 22%, to an all-time record level of £4.6 billion.Since 2009-10, the amount taken in IHT has increased on average by 12% each…

Marriage Allowance could save £220 in income tax

17/10/16

Couples where one partner is a basic rate taxpayer and one is a non-taxpayer can benefit by transferring 10% of the non or low-earning spouse’s personal allowance to the other. You are eligible if:you’re married or in a civil partnershipyou don’t earn anything or your income is under £11,000your partner’s…

Budget 2016 Update

30/3/16

Thankfully the Budget was very light on significant changes to pensions. It was no surprise to us that the tax free lump sum was untouched but more surprising that tax relief on pension contributions was also unchanged.That seems more likely to be a stay of execution than a lifetime pardon…

Autumn Statement – 25th November

29/10/15

The Chancellor will deliver his Autumn Statement on 25th November. Having announced radical overhauls of pension rules, inheritance tax and the taxation of dividend income in the last eighteen months, will Mr Osborne allow the dust to settle before making further changes? We will update our 'News and Views' pages…