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Large pension holder? How the Lifetime Allowance has changed and how it could affect you

by TIna

Category: Uncategorized

First introduced on 6th April 2006, the Lifetime Allowance (LTA) is the maximum amount of pension saving you can have without incurring a tax charge. Originally fixed at ÂŁ1.5m, the protection ring-fenced an amount of your pension from the tax man, but also gave the government a way of clawing back some of the tax relief which those who have built up large pension pots would have received whilst accruing their pension benefits.

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A Beginner’s Guide to Inheritance Tax

by TIna

Category: inheritance tax & Tax & Uncategorized

Inheritance Tax is due in the UK when a person’s estate – their property and possessions – is worth more than £325,000 when they die. This figure is called the ‘Inheritance Tax Threshold’. The rate of Inheritance Tax due is 40% on anything above the threshold, however the rate may be reduced to 36% if more than 10% of the estate is left to charity.

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October Market Commentary

by TIna

Category: Economy & Market commentary & property & Uncategorized

Just when it was all going so well…

By and large, the news coming out of world financial centres in September was good. In the UK, Jaguar was planning to create 1,700 more jobs and the OECD were revising their growth forecasts upwards. Shares in the US ‘roared to record levels’ as the Federal Reserve decided to continue its $85bn a month stimulus plan and in the Far East there was a thaw in North and South Korean relations as the Kaesong industrial complex re-opened.

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Today’s children will need a £2.4m pension pot!

by TIna

Category: pensions & retirement & savings & social care & Uncategorized

The 800,000 babies born in the UK last year will need to save ÂŁ2.4m into their pension to retire comfortably, while facing rising student and mortgage debt and care costs for their parents. The Office of National Statistics (ONS) recently released figures showing 813,200 babies were born in the UK in 2011/12, the highest number since 1972.

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