Today is the last day of the current tax year. If this has crept up on you, you’re not alone. The most popular last minute decision is to use this last chance to shelter £15,240 in an ISA. This is where your money can grow free of income or capital gains tax. With pensions, your … Continue reading The Last Day of the (Tax) Year

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

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

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

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

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