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Last Posted: 28-Mar-2017 | Total Posts: 148

Class 4 National Insurance contributions increase scrapped

Tuesday, March 28, 2017
Chancellor Philip Hammond has back-tracked on his decision to increase Class 4 National Insurance contributions for the self-employed. After announcing in the Budget on 8 March 2017 that class 4 National Insurance contributions (NICs) paid by the self-employed would increase from 9% to 10% 

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Private Medical Insurance (PMI) – beat the tax increases

Tuesday, March 28, 2017
Insurance Premium Tax is due to increase again in June this year, almost certainly leading to price rises. Now’s the time to beat the changes. Insurance Premium Tax (IPT) is due to rise from 10% to 12% from June 2017. The tax applies to many insurance products, including private me 

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ISA tax advantages could be extended after death

Tuesday, March 28, 2017
The ISA savings of deceased individuals may now continue to benefit from tax advantages, provided the money is kept in an ISA. Savings in ISA accounts could continue to be treated as tax-free after an individual dies, under proposed new legislation. At present, ISAs lose their tax-fr 

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LISA – A new saving choice

Tuesday, March 28, 2017
The Lifetime ISA (LISA) is launching on 6th April 2017. If you’re aged between 18 and 40, you’ve now got another savings option. The Lifetime ISA (LISA) is designed to help younger people save for a first property, as well as for their retirement. Young savers can put up to 

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Pensions advice allowance – using your pension to pay for advice

Tuesday, March 28, 2017
There’s now more flexibility around taking money out of your pension to pay for advice - tax-free! From April 2017, if you are saving into a defined contribution pension, you’ll be able to take three payments of £500 tax-free in three different tax years, to pay for finan 

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Money Purchase Annual Allowance changes

Tuesday, March 28, 2017
If you’re planning to start taking money from your pension pot, make sure you’re aware of the new Money Purchase Annual Allowance restrictions on contributions. From 6 April 2017, anyone who has taken income from a defined contribution pension as an Uncrystallised Funds Pension 

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The Budget: What does it mean for business?

Thursday, March 09, 2017
Reduction to the dividend allowance The annual dividend allowance introduced last year will remain at £5,000 for the 2017/18 tax year, but will then drop to £2,000 from April 2018. In particular, this will hit small and medium sized business owners who take their profits as a d 

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Your savings and investments

Thursday, March 09, 2017
The Budget confirmed a number of measures that had been previously announced, including tax allowances, the new Lifetime Individual Savings Account (LISA) and the reduction in the Money Purchase Annual Allowance (MPAA). 2017/18 tax rates and bands confirmed The personal allowance fo 

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More tax, less spend

Thursday, March 09, 2017
What does the Budget mean for the economy, social welfare and the NHS, families, education, personal allowances, savings, infrastructure and transport? And what about fuel and alcohol duty? Economy The growth forecast for 2017, according to the Office for Budget Responsibility  

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Salary sacrifice – are you affected?

Tuesday, March 07, 2017
The future of salary sacrifice has been under review since the 2016 Budget. Now, the details are becoming clear From 6 April 2017, new salary-sacrifice arrangements will only be allowed for pensions, pensions advice, childcare vouchers, workplace nurseries, directly employer contracted ch 

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