Keeping you posted
Are you part of new HMRC statistics showing an increase in higher-rate taxpayers? The latest set of HMRC statistics on income tax gives an insight into how the freezes on the personal allowance and higher rate tax threshold are affecting taxpayers.
If you are a company owner director, the choice between bonus and salary has changed. ‘Tax laws and rates can change’. Those words, or something similar, appear in many financial advertisements, but if you are a company director, you may feel that ‘tax laws and rates always change’ is more appropriate.
If your investment goal is income, your options have broadened in the last two years. Go back two years or more and if you wanted income from your capital, there often seemed little alternative to taking on higher investment risk to achieve your goals.
New legislation should ensure stay-at-home parents don’t miss out on pension entitlements.
The Bank of England is reviewing the deposit guarantee scheme, with a view to boosting protection for the nation’s savers.
If you are self-employed, you are the head of your own HR department and need to plan accordingly.
Divorce or dissolution can be a painful process, but new rules should ease some of the tax complications couples face when dividing assets, including the family home.
If you are in control of how you take your pension in retirement, have you thought about how you intend to convert your pension pot into income when you retire? The last 18 months of high inflation mean you may need to review how you draw income if you are approaching retirement.
New data from HMRC show that in 2022/23 inheritance tax (IHT) payments hit a new high. Are you going to contribute more?
Your retirement planning options could need review after the Budget changes to the lifetime allowance and the annual allowance.
The saying ‘A goal without a plan is just a wish’ could have been written about taking financial advice, as new research shows the benefits stretching beyond simply number-crunching.
An important pension deadline has been extended to 5th April 2025. In 2013, as part of the launch of the new state pension, the government announced that until 5 April 2023 people could fill in gaps in their national insurance contribution (NIC) record between April 2006 and April 2016.
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