pensions Archives - Page 2 of 11 - Whitefield Tax - Isle of Wight Accountants

Spring 2023 Budget – A First Look

by Jessica Garbett | Mar 15, 2023 | budget, business taxation, pension reform, pensions, personal finance, personal taxatation

Please note this content was written contemporaneously, and may well now be superseded Perhaps its a sign of age that just as policemen get younger, budgets come around sooner. It doesn’t seem that long since the last time I was writing one of these summaries....

Voluntary NI and Self Assessment

by Jessica Garbett | Nov 29, 2021 | business taxation, pensions

With Self Assessment season for 2020-21 in full swing, its useful to revisit Voluntary NI issues, and maintaining access to State Benefits and State Pension. Entitlement to State Benefits, primarily State Pension, is currently generated from either: Class 1 National...

Freeze coming on pension lifetime allowance

by Jessica Garbett | Mar 5, 2021 | ACCA, budget, pensions

Plan ahead – there is a freeze coming from 2021 to 2026. Legislation will be introduced in Finance Bill 2021 to remove the annual lifetime allowance link to the Consumer Price Index increase for the next five fiscal years. This change will maintain the standard...

Pensions update – all you need to know

by Jessica Garbett | Mar 5, 2021 | ACCA, budget, pensions

Updates to annual, lifetime and tapered annual allowances and more. Why make a pension contribution? When you save into a pension, the government usually gives you a top-up as a way of encouraging you to save for your future. If certain conditions are satisfied, tax...

Coronavirus – Temporary changes to pension tax

by Jessica Garbett | Jun 15, 2020 | ACCA, Covid19, pensions, personal finance

For public sector workers returning to support the government’s response to Covid-19, the government suspended the tax rule that would otherwise apply significant tax charges to pension income received by recently retired individuals aged between 50 and 55. As these...

Don’t forget the state pension!

by Jessica Garbett | Dec 9, 2019 | ACCA, pensions, personal finance

A handy guide to help you review your state pension provision. An overhaul in April 2016 replaced the old two-tier system with a flat-rate state pension, which is now (in 2019/20) £168.60 per week. However, the amount a person is entitled to depends on their National...

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Spring 2023 Budget – A First Look

Voluntary NI and Self Assessment

Freeze coming on pension lifetime allowance

Pensions update – all you need to know

Coronavirus – Temporary changes to pension tax

Don’t forget the state pension!

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