Reviewing Your State Pension

Earlier this year, a report suggested that half a million people could be paying ‘unnecessary’ tax on their state pension. The issue arises where someone carries on working beyond state pension age. At 65, state pension age is now the same for women as for men. It rises to 66 in October 2020 and is … Continue reading Reviewing Your State Pension

Pensions Re-Enrolment: Don’t Get Caught Out

As an employer, did you know that you have a legal duty to re-enrol certain employees back into an automatic pension scheme every three years, even if they opted out the first time? Failure to do so could result in a penalty... If you were one of the thousands of businesses that auto-enrolled employees in … Continue reading Pensions Re-Enrolment: Don’t Get Caught Out

The Rising Tide of Auto Enrolment

Over the course of the next two years Auto Enrolment Pension contribution rates are rising. These changes will affect you as an employer as well as your employees. Currently the total minimum amount is 2% of qualifying earnings, of which the minimum for the employer to pay is 1%. This means that the employee normally … Continue reading The Rising Tide of Auto Enrolment

New Allowance for Pension Advice

A new allowance which will enable people to access pensions advice in a tax efficient way will commence in April 2017. Under existing rules, if you require advice regarding pensions you will normally have to pay a fee to a Financial Adviser. A new allowance being introduced in April will mean that you will be … Continue reading New Allowance for Pension Advice

Year End Tax Planning Tips For Companies

  Corporation tax is set to reduce to 19% with effect from 1 April 2017 but opportunities still remain to reduce and defer corporation tax liabilities. Here are some you may wish to consider. MAXIMISE CAPITAL ALLOWANCE The annual investment allowance (AIA) provides 100% tax relief for qualifying expenditure incurred up to a limit of £200,000 … Continue reading Year End Tax Planning Tips For Companies

Year End Tax Planning

The end of the tax year is fast approaching, but there is still time before 5 April to save tax for 2016-17. Below are some points you may wish to consider. MAXIMISE CAPITAL ALLOWANCES Businesses may be able to write off the cost of capital assets by making the most of capital allowances. The Annual … Continue reading Year End Tax Planning

Changes To Lifetime Allowances For Pensions: How Does It Affect You?

The standard lifetime allowance for a pension fund for 2015-16 is £1.25 million. This will fall to £1 million from 6 April 2016 and will become index linked from 2018. In deciding whether you are nearing the lifetime limits you need to consider the value of all your private and work pensions. If you exceed … Continue reading Changes To Lifetime Allowances For Pensions: How Does It Affect You?

Reductions To The Annual Pension Allowance

The annual pensions allowance is set to change on 6 April 2016 if your “threshold” income exceeds £110,000 and your “adjusted” income exceeds £150,000. For most people the annual allowance is £40,000, but should your income exceed the above limits the allowance (which includes employer’s and employee’s contributions) will be reduced by £1 for every … Continue reading Reductions To The Annual Pension Allowance

Preparing for Auto Enrolment Seminar – 13 April 2016

We are delighted to announce that Stephen Rowntree from The Pension Regulator will be presenting at our Auto Enrolment seminar on Wednesday 13th April. You may be aware from seeing ‘Workie’ the striking physical embodiment of the workplace pension on your TV screens, that the law on workplace pensions has changed. Every employer with at least one … Continue reading Preparing for Auto Enrolment Seminar – 13 April 2016

Pension Auto Enrolment Top Tips

Thousands of British Businesses are starting Automatic Enrolment in the coming 12 months here are our Top Tips for success: Don’t ignore the issue – it won’t go away! Also you cannot try to encourage employees to choose not to enrol, it may come back to haunt you. Make sure that the Pension Regulator has … Continue reading Pension Auto Enrolment Top Tips