There are many new changes afoot in 2015 with regards to pensions, so whether you are saving for old age, about to retire or even have already retired there are a few things you need to know about. Pension freedom…
What is an annuity? Many individuals will save into a pension during their time working, meaning that overall a pension pot should be built up. As people retire they will usually use this money they have saved to by an…
Here are some changes which may affect your planning from April 2016; Pensions- As from April 2016 there will be a reduction in the £40,000 annual pension allowance where income, including pension contributions, exceeds £150,000. The annual allowance will reduce…
Owning and running your business is a tough proposition but it is vitally important that people continue to do it. As well as the rewards that come from hard work and determination, there are also monetary benefits to running your…
Personal allowances and reliefs Generally the personal allowance is £11,000. Non-savings income above the personal allowance is taxed at rates from 20% to 45%. A higher marginal tax rate may be payable between £100,000 and £122,000 when the personal allowance…
Tax, reliefs and allowances on different types of property income. There are many ways to earn an income from property such as residential properties, furnished holiday lettings, commercial properties and renting out a room in your house. The exact tax…
The deadline to submit your self-assessment paper tax return for the 2016/17 tax year is 31 October 2017. All income received during the tax year running from 6 April to 5 April must be accounted for in your tax return.…