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Category: pensions & Uncategorized
1. You can now take your defined contribution pension how you like
From April 2015, withdrawals from your pension will be treated as income and you can withdraw what you like; the amount of tax you will pay on what you withdraw will depend on the amount of other income you have in that year, as long as you are 55 or over. Previously, full withdrawals were taxed at 55%.
Category: Economy & Uncategorized
Financial planning, when itâs done right, is a pretty amazing experience. A prospective client comes to see you in the belief theyâve simply got a pension or investment problem, and ends up (a few weeks or months later) with a plan thatâs changed their life and their relationship to money.
Category: Financial planning for Businesses & Tax & Uncategorized
Commentary on the Chancellorâs Autumn Statement in the accounting community has been focused on just a few key headlines, reflecting the wider acceptance that this was an Autumn Statement of âtweaksâ rather than ârabbits-out-of-hatsâ.
Category: Autumn Statement & financial planning & Uncategorized
The latest budget pronouncements by the Chancellor in his 2015 Autumn Statement may accelerate increases in local council taxes over the next few years, for both homeowners and businesses.
Category: Accounting & HMRC & Tax & Uncategorized
Information in the Autumn Statement indicates that by 2020 individual taxpayers may be expected to report and pay their liabilities every quarter via their new digital tax accounts. The Chancellor promised an injection of ÂŁ1.3bn to deliver, âthe most digitally advanced tax administration in the worldâ by 2020.
Category: financial planning & Housing & property & Uncategorized
Chancellor George Osborne landed buy-to-let landlords a shock during the Autumn Statement by announcing a 3% stamp duty surcharge on property purchases from 1st April 2016.
The addition of a 3% extra charge for buy-to-let and second homes on all stamp duty bands above a ÂŁ40,000 starting level will see some purchases taking on a much larger amount of stamp duty.
