Pension and dividend tax changes dropped as election looms

Confusion reigned this week as the Chancellor, Philip Hammond, revealed that two measures previously announced in his Budget will not go ahead. For now, anyway. Mr Hammond’s Budget, delivered in early March, will be remembered for the proposed National Insurance rise for self-employed workers. A few days later, following protests and a media backlash, he changed his mind. It now seems that two other measures, which would have affected pensioners and shareholders, will now not go ahead. Contribution cut Prior to the Budget, the Money Purchase Annual Allowance (MPAA), the maximum people who have withdrawn money ...

Six warning signs that mean you should change SIPP provider

Self-Invested Personal Pensions (SIPPs) are mainly used by savers and investors who want more flexibility than is offered by more traditional pension options. We’ve previously written about how to choose the right SIPP. But how do you know, years after you have made that decision, whether your SIPP provider is still right for you? Over the past few years the SIPP market has been through a period of considerable change. New rules, imposed by the regulator, the curse of toxic assets and a series of high profile mergers and acquisitions have all ...

Don’t miss the deadline to boost your State Pension

The Government has offered up to 12 million Pensioners the chance to convert a lump sum into a guaranteed income for life, on terms significantly better than those available on the open market. The scheme is available to people who retired on the old basic State Pension of around £120 per week, and who therefore miss out on the higher, flat rate pension, of £155.65, introduced in 2016. But time is running out as the scheme closes on 5th April 2017.   How does the scheme work? To qualify you must be entitled to the State ...

Buy to Let: 6 tips for dealing with the tax changes

tax increase 3d silver badge with blue ribbon George Osborne’s first Budget since the election contained something of a bombshell for Buy to Let investors. One of the attractions of Buy to Let investing is the ability for investors to offset mortgage interest against the income they receive. Opponents of the system have long since argued that it gives Buy to Let investors an unfair advantage against owner occupiers, especially first time buyers. On the other hand, Buy to Let investors argue all businesses can offset debt interest against turnover and it ...