By 2020/21 families could escape IHT on up to £1,000,000 of their wealth. Each parent will have a nil rate band of £325,000 plus a RNRB of up to £175,000. The new IHT Residence Nil Rate Band (RNRB) will be introduced in April 2017. It is in addition to an individual’s own nil rate band
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With over 90 years of combined experience of financial planning & investing, we consider that it is very difficult and most likely impossible to predict when is the best time to enter or exit the market. The speed at which markets react to news means stock prices have already absorbed the impact of new developments.
Read MoreDuring the 2015 post-election Budget, Chancellor of the Exchequer George Osborne announced that he would be establishing a new dividend tax. Why the change? Under the current system, any dividends received up to the basic rate income tax band (20% band is currently £31,785 on top of the £10,600 or £10,660 personal allowance) would not
Read MoreDefined Benefits (DB) or Defined Contributions (DC) Pension Schemes In the popular press, ‘final salary’, also known as ‘defined benefit’, pensions are often referred to as ‘gold-plated’, the implication being that they are superior to ‘defined contribution’ (money Purchased) arrangements such as Personal Pensions. Many therefore can dismiss the notion of doing anything with a
Read MoreWith so many pressures on us and information being available on managing your finances from seemingly everyone, including the proverbial ‘man down the pub’, we took some time to identify some of the key areas that could be improved when we are planning our finances. Have a look through and see how many apply to
Read MoreIt was only relatively recently, in April 2006, that HM Treasury brought in legislation to simplify the many different pension regimes that existed at the time. This was done partly to ensure that from the 6th April 2006, all pensions accrued their benefits within set limits, removing the bewildering array of different rules and caveats
Read MoreAs a new tax year rolls around, you should note that there are quite a few changes to the allowances you can claim to help improve the tax efficiency of your financial affairs. Of course, to our clients we are on hand to advise about these and ensure that in combination they work to the
Read MoreWhen George Osborne delivered his Budget to Parliament recently, he made it clear that the overall aim was to reward work and support growth. To achieve this, several measures were introduced that may affect you, which are outlined below: PENSIONS Pension Funding Pension funding remained relatively untouched by this budget. The annual allowance remains £50,000
Read MoreIncome Drawdown (also known as an unsecured pension) allows you to take income from your pension fund while the fund remains invested and continues to benefit from any fund growth. There is no minimum amount of income that must be drawn, irrespective of age. This means that you may be able to leave your pension
Read MoreToo often people leave their tax planning to 4th April, which limits their options for keeping hard-earned cash out of the taxman’s clutches. Instead, make this new tax year the year you take control and plan ahead to make sure you make the right choices. Sensible plans Each tax year, there are a number of
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