News & Updates

Capped Drawdown and retaining the £40K Annual Allowance

The Annual Allowance (AA) places a limit on the maximum amount of tax relievable pension savings that can be made, by and on behalf of an individual, to all registered pension schemes without incurring a tax charge.

Chancellor Abolishes 55% Tax Charge on Death

As announced by the Chancellor George Osborne on the 29th September, from the 6th April 2015 individuals will have the freedom to pass on their unused defined contribution (DC) pension savings to any nominated beneficiary when they die,

Do you need income protection insurance?

If you couldn’t work due to a serious illness, how would you manage? Could you survive on savings or your sick pay from work? If not, you will need some other way to pay the bills and you might want to consider income protection.

Transferable Nil Rate Band

Inheritance Tax (IHT) is chargeable on assets held at death and certain lifetime gifts which are over and above the 0% threshold known as the “nil-rate band” (NRB). The rate of tax on death is 40%, subject to any available reliefs and exemptions.

What do the Budget changes mean for pensions?

Budget 2014 was expected to yield few surprises with many commentators predicting that the Chancellor would save any notable changes for 2015 in the run up to the next election.

Budget Briefing

The budget was delivered on Wednesday and the announcements have a far reaching impact on all of us.

The myth of the common law spouse

It is a fact that, over recent years, the number of unmarried couples in the UK has been steadily increasing. According to the Office for National Statistics (ONS) around 5.9 million people were co-habiting in 2012.

Fixed Protection 2014

The standard lifetime allowance will be further reduced from £1.5m to £1.25m on 6 April 2014.

A Summary of the Autumn Statement

The Chancellor delivered his 2013 Autumn budget under a far more positive economic backdrop than for his previous announcements.

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