Archives for News

Preserving Wealth

Should you review your situation with further changes on the horizon? Inheritance Tax (IHT) affects not just the very rich – other people may be liable without realising it. Few taxes are quite as emotive – or as politicised – as IHT. The structures into which you transfer your assets can have lasting consequences for you and your family. We can help you choose structures and trusts designed to protect your assets and give your family lasting benefits. It is crucial to find out now if you potentially have an IHT liability – or could do so in future years. Historically, IHT
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Categories: News.

Guide to the New State Pension

The State Pension changed on 6 April 2016. If you reached State Pension age on or after that date, you’ll now receive the new State Pension under the new rules. The aim of the new State Pension is to make it simpler to understand, but there are some complicated changeover arrangements which you need to know about if you’ve already made contributions under the previous system. For many retired people, the State Pension forms the core of their income, together with any workplace or personal pension provision that you have. The new State Pension is a regular payment from the Government that you
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Categories: News.

Pension Tax Relief – Changes Coming

The pension tax relief system is about to be reinvented. The Government announced in the Summer 2015 Budget their intention to cut pensions tax relief for high earners by introducing a tapered annual allowance from 6 April 2016 for individuals with income (including the value of any pension contributions) of over £150,000, and who have an income (excluding pension contributions) in excess of £110,000. The rate of reduction in the standard annual allowance of £40,000 is by £1 for every £2 that the adjusted income exceeds £150,000, up to a maximum reduction of £30,000. Replacing complex rules: Although this measure
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Higher Stamp Duty on Buy-to-Let & Second Homes from April 2016

Buy-to-let landlords and people buying second homes from April this year will have to pay a 3% surcharge on the stamp duty charged for the property. Chancellor George Osborne made the announcement during his Spending Review and Autumn statement last year. From April, you will have to pay a 3% surcharge on the stamp duty charged for the property, set to raise an extra £1bn for the Treasury by 2021. Buy-to-let landlords are already due to receive a lower rate of tax relief on mortgage payments. In his summer Budget, Mr Osborne said that landlords would only receive the basic
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Categories: News.