A recent survey1 has revealed the dramatic impact that Chancellor Jeremy Hunt’s decision to scrap the pension Lifetime Allowance (LTA), made several months ago, is having on people’s retirement planning. The decision In his first Spring Budget Statement delivered on 15 March, the Chancellor announced that the LTA charge would be removed from April 2023 […]
The complex world of tax on investment The whole tax system has grown increasingly elaborate, thanks to revenue-raising tweaks such as the taxation of child benefit and multiple reforms of dividend taxation. As more changes are introduced, the complexities increase. This guide offers a brief outline of how your investments are currently taxed and future […]
The Chancellor has announced that he will issue an Autumn Statement on 22 November. Perhaps it was just coincidence, but a year to the day after Liz Truss was elected Prime Minister, the current Chancellor (and her second) announced that there would be an Autumn Statement on 22 November 2023. In autumn 2022, Ms Truss’s […]
A key intestacy limit was due to increase in December 2022, but the timing was overlooked… until July 2023. The intestacy rules for England and Wales state that where there is no will, if on first death the deceased leaves children, grandchildren or great grandchildren, the surviving spouse or civil partner is entitled to the […]
A new think tank report highlights the need to increase pension contributions. Over time, good ideas start to age. Take, for example, automatic enrolment into workplace pensions, which is now eleven years old. In some respects, it has been highly successful – about 80% of employees are now benefiting from pension contributions compared […]
State pension increases could be outpacing inflation next April, and there’s no guarantee of the Triple Lock surviving the next election. In mid-September, the Office for National Statistics (ONS) published the latest earnings data, covering the period May to July 2023. Earnings data has been the focus of much attention recently because a fall in […]
