PROTECTING THE STATE PENSION FOR STAY-AT-HOME PARENTS

An issue concerning how the high income child benefit charge (HICBC) can potentially affect stay-at-home parents has emerged. The HICBC claws back child benefit payments where either parent has income over £50,000 a year, and removes the benefit entirely if either parent has income over £60,000. For couples where one person earns over £60,000 whilst [...]

By | 2019-02-25T09:43:52+00:00 February 25th, 2019|Uncategorised|0 Comments

PREPARING FOR THE NEW TAX YEAR

One of the few certainties about 2019 is that the mew tax rates and thresholds will take effect from the start of the 2019/20 tax year on 6 April. Whilst the focus tends to be on year end tax planning at this time of year, it is important to look forward to the new tax [...]

By | 2019-02-25T09:41:13+00:00 February 25th, 2019|Uncategorised|0 Comments

MONEY POURING IN TO VCT’s, DESPITE THE RISKS

Investment in venture capital trusts (VCTs) is continuing to rise as we head in to 2019/20. VCTs have been growing in popularity in recent years, as the graph shows. Nearly £750 million was invested in VCTs in 2017/18, the highest figure since 2005/06, when the rate of income tax relief was temporarily boosted to 40% [...]

By | 2019-02-25T09:40:11+00:00 February 25th, 2019|Uncategorised|0 Comments

HAPPY BIRTHDAY TO TAX-FREE SAVINGS

The arrival of the new tax year on 6 April means it is time to consider your Individual Savings Accounts (ISA) investments, which will celebrate their 20th birthday in April. Over the last 20 years, the maximum annual contribution has risen from £7,000 per tax year to £20,000 for 2019/20. If you managed to set [...]

By | 2019-02-25T09:36:09+00:00 February 25th, 2019|Uncategorised|0 Comments