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Retirement Planning Tag

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Important interest rate announcements were made in June, both in the UK and the US. The US Federal Reserve announced its seventh 0.25% increase in interest rates since December 2015, taking the level to 1.75%-2.00%. The rise had already been incorporated in market prices by...

23 July, 2018 /

The way savings are taxed is being reviewed by the Office of Tax Simplification (OTS). The OTS is looking at the way in which savings and investment income is taxed, which can be very complicated. According to its paper, published in May 2018, “the interactions...

11 June, 2018 /

Couples could now save an extra £20,000 of inheritance tax (IHT), as the residence nil rate band (RNRB) increased in April 2018. The RNRB was increased at start of the new tax year and it is due to increase by £25,000 in each of the next...

14 May, 2018 /

It is worth looking at what your pension pot could buy for your retirement. The importance of pension contributions has been bolstered by the rollout of auto-enrolment pension schemes. However, it is not as clear what your savings will give you when you come to retire. For...

09 April, 2018 /

  A recently released report shows dividend payments in the UK grew more than 10% in 2017. The report included good news for investors, as UK listed companies paid out £94.4 billion of dividends in 2017. This was up 10.5% on the previous year and a new...

02 April, 2018 /

You may be due a refund if you have registered a power of attorney in recent years. It is not often the government offers a refund because of overcharging, but last month it emerged that the Office of the Public Guardian (OPG) had been levying excessive...

27 March, 2018 /

The start of the new tax year on 6 April marks several changes to tax and related matters that could make you richer… or poorer. The absence of a Spring Budget does not mean that the usual raft of changes at the start of the...

19 March, 2018 /

The rules for inheriting ISAs will change from 6 April. It was announced by George Osborne in 2014 that ISAs would become inheritable by surviving spouses and civil partners. At the time, nobody – not even the Treasury – was clear what the then chancellor meant. The...

12 March, 2018 /

There will be no Spring Budget this March, but that does not mean the Chancellor is staying silent. On 13 March, the Chancellor will present a Spring Statement to the House of Commons, not a Budget. The next Budget should be in the autumn, probably November....

26 February, 2018 /

This is the time of year to review your pension contributions. February and March are rightly popular times for reviewing and making pension contributions. By this stage you should have a good idea of what your income for the tax year will be and how much...

19 February, 2018 /