Lifetime ISA

The end of the tax year is now only 2 days away. From the start of the new tax year the Lifetime ISA will be available. The Lifetime ISA will allow adults between the ages of 18 and 39 to open a Lifetime ISA and invest up to £4,000 each year and receive a bonus … Continue reading Lifetime ISA

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Pension Scams

A new client recently came to see us. His previous adviser had recommended an unauthorised investment and now he has a copy of the Administration Notice from the administrators. For most people a pension, whether it is a workplace scheme, a Personal Pension or a SIPP (Self Invested Personal Pension) this will possibly provide a … Continue reading Pension Scams

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Money Purchase Annual Allowance

Normally you can contribute up to £40,000 to a personal pension in any one tax year. For those people who have started drawing income benefits they have triggered the Money Purchase Annual Allowance, which restricts the contributions to £10,000. The MPAA effectively stops individuals using pension flexibilities around accessing a money purchase pension arrangement as … Continue reading Money Purchase Annual Allowance

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Premium Bonds

Many of our clients hold premium bonds, some holding these for many years hoping they might win the jackpot. Unless you have been a luckily winner of the jackpot, as an investment, these NS&I products offer relatively poor returns. Recently Moneysaving expert did a good piece on these which you can read here: http://www.moneysavingexpert.com/savings/premium-bonds The … Continue reading Premium Bonds

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Residential Nil Rate Band

In April 2017 some of us will get a new tax allowance in the form of the first stage of government’s Residential Nil Rate Band. From that date each of us is potentially able to use this additional allowance, which starts at £100,000 per person, to reduce our liability to Inheritance Tax on death. Each … Continue reading Residential Nil Rate Band

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Probate Fees – May 2017

When someone dies, it is often necessary to get a Grant of Probate to allow the executors named in the will to collect in the deceased person’s assets, sell property and distribute the estate to the beneficiaries. Currently the fee charged to apply to the Probate Registry for a Grant is £215 unless a solicitor … Continue reading Probate Fees – May 2017

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