One of the key measures of the Spring Budget was the announcement that the £40,000 cap on annual pension contributions will be increased by 50% to £60,000 from 6 April 2023. Tax relief for contributions to pension schemes is given at a taxpayer’s marginal rate of Income Tax and is subject to the increased underlying limits. Taxpayers will continue to access carry-forward, unused annual allowances for the last three tax years if they have made pension savings in those years.

The October Budget 2021 was a mixture of both positive and negative news for UK residents and businesses. We have highlighted key negative news for both.

There have been a number of things driving the increases in the pension age over the last few years, and women have been particularly affected by this as their state pension age has increased from 60 to 66 in that time.  For men the increase has been less extreme, with the age increasing by only one year from 65 to 66.

For many years Chancellors have threatened to reduce the Income Tax relief that can be claimed for payments into a private pension scheme.

With the new tax year now upon us, any allowances that you used up in full during 2018/19 have been reset and you can now begin using them again.  
 

2019 is set to be a year of changes for finances, with everything from council tax, state pension payments and inheritance tax set to change. Find out about the changes below and how your finances could be affected.

2019 is set to be a year of changes for finances, with everything from council tax, state pension payments and inheritance tax set to change. Find out about the changes below and how your finances could be affected.

From 6th April 2019, the total minimum amount being paid into the workplace pension both by the employer and the employee will increase from 5% to 8 % of qualifying earnings due to a change in workplace pension regulations.  (This is based on a qualifying earnings scheme.) 

The recently announced proposed increase in Teachers’ Pensions Scheme (TPS) employer contributions from 1 September 2019, has shocked the academy sector. Treasury indications predict a rise to 23.6% - an increase of over 40%. Most schools were expecting a 2% to 3%.
 

The recently announced proposed increase in Teachers’ Pensions Scheme (TPS) employer contributions from 1 September 2019, has shocked the academy sector. Treasury indications predict a rise to 23.6% - an increase of over 40%. Most schools were expecting a 2% to 3%.
 

From next year, trustees could face additional disclosure requirements on how environmental, social and governance (ESG) issues are taken into account when making investment decisions.

Are you looking ahead to your future? Perhaps, you have parents or relatives who may require care assistance?

Are you looking ahead to your future? Perhaps, you have parents or relatives who may require care assistance?

By law, the minimum amounts paid into automatic enrolment pension schemes are increasing.  Employers need to take action now to check whether and how they are affected.

The buy-to-let market has been dominated by investors seeking a property pension, according to new research.

The buy-to-let market has been dominated by investors seeking a property pension, according to new research.