5th May 2017

Over-55s risk falling prey to the inheritance ‘sibling tax trap’ On 6 April 2017, a new additional main residence nil-rate band (RNRB) was introduced, which allows for less Inheritance Tax to be paid in situations when a family home is left to children, grandchildren or certain other ‘qualifying beneficiaries’ – including stepchildren and foster children.

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5th May 2017

Key to a positive retirement lifestyle Unfortunately, some individuals do not realise the importance of planning for their retirement. The amount of money saved for retirement will eventually have a profound impact on how we live our lives and our standard of living in our golden years.

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5th May 2017

UK and European investment company managers comment on the outlook post-Brexit On Wednesday 29 March, Article 50 of the Treaty of Lisbon was triggered, formally notifying the EU that the UK intends to withdraw from membership and starting the clock for leaving negotiations.

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5th May 2017

Tactics investment fraudsters use to deceive over-55s The Financial Conduct Authority (FCA) is urging over-55s to check that investment opportunities are genuine before they part with their money.

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5th May 2017

Do you have the time to keep fully up to speed with everything that’s going on? With a burgeoning choice of products on the market, and considering the busy lives we all lead, it can be difficult to find the time to keep fully up to speed with everything that’s going on – especially when […]

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5th May 2017

Income Tax dividend allowance reduction On 8 March, the Chancellor of the Exchequer, Philip Hammond, delivered what people had expected – a Budget of few surprises to provide a ‘strong, stable platform for Brexit’. However, he did reveal the tax-free dividend allowance will be reduced from £5,000 to £2,000 from April 2018.

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5th May 2017

Tax rate charge on transfers on or after 9 March 2017 Qualifying Recognised Overseas Pension Schemes (QROPS) transferred on or after 9 March 2017 are now subject to tax charge at a rate of 25% on the transfer. The measure took effect with respect to relevant payments from QROPS from 6 April 2017.

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5th May 2017

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Annual and lifetime limits Tax relief means some of your money that would have gone to the Government as tax goes into your pension instead. You can put as much as you want into your pension, but there are annual and lifetime limits on how much tax relief you get on your pension contributions.

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5th May 2017

Value of payouts from pension schemes The lifetime allowance is a limit on the value of payouts from your pension schemes – whether lump sums or retirement income – that can be made without triggering an extra tax charge.

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5th May 2017

New rule changes The State Pension changed on 6 April 2016. If you reached State Pension age on or after that date, you’ll get the new State Pension under the new rules.

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