Lifetime allowance



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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Tax relief and pensions



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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Pension freedoms



The most radical changes to pensions in almost a hundred years In April 2015, the Government introduced the most radical changes to pensions in almost a hundred years. From April last year, individuals from the age of 55 with a defined contribution pension can now access their entire pension flexibly if they wish.

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Considering an enterprise investment scheme?



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With the end of the tax year looming and pension tax free annual allowance limited to £40,000, high earners should seek alternative ways to invest in a tax-efficient manner; Enterprise Investment Schemes (EIS) are one of the options.

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Buy-to-let and second homes



Higher stamp duty payable 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.

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Pension tax relief



New tapered annual allowance for high earners 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 […]

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Income protection



Research highlights existing gap between awareness and prioritisation Having a clear understanding of your protection requirements and the importance of getting the right professional financial advice as you enter the New Year are essential, and they will be of increasing significance from April when working age welfare support for mortgage interest and bereavement benefits are […]

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2016 Tax Matters



Reducing the taxman’s take To minimise the tax you pay, it’s important to be fully aware of the choices you can make before you make them, so planning ahead and taking professional financial advice is essential. With real-terms tax increases the prospect for the foreseeable future, it makes sense to utilise every available tax relief.

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New Year’s resolutions



Setting goals for saving and investing Have you made your New Year’s resolutions? Considering that the most common topics are health and finances, there’s a pretty good chance that at least one of them involves a financial goal.

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Open-handed Grandparents



Generosity shows no sign of stopping Forget the headlines about post–pension freedoms with retirees spending their nest egg on a Lamborghini – new research shows that 2.4 million UK grandparents[1] have either withdrawn money from their pension to support their grandchildren or plan to in the future.

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