SIPPs: Budget changes all SIPP investors need to know about

April 4, 2015: Houston, TX, USA - Scrabble tiles spelling CHANGAs the fallout from George Osborne’s Budget earlier this month continues, SIPP (Self-Invested Personal Pension) investors could be forgiven for thinking that there are no impending changes which will affect you. Think again! The Budget introduced a number of changes which will affect SIPP investors. These come on top of other rule changes, which makes now the perfect time to round up all the imminent amendments to pension rules. However, let’s start with two things which aren’t changing. Tax-relief Despite huge speculation before the Budget, ...

Q & A: Everything you need to know about the Lifetime ISA

Q & A Everything you need to know about the Lifetime ISA 150pxGeorge Osborne couldn’t let a Budget go by without tinkering with the pension system, but this time, it may actually benefit millions of people. In a surprising move, the Chancellor has announced the launch of new Lifetime ISAs (Individual Savings Accounts) designed to help younger people buy a home, as well as save for retirement. So who is eligible? How will they work? Read on and we explain all you need to know. Who is eligible to open a Lifetime ISA? Anyone ...

Budget 2016: The headlines

Budget 2016 150pxGeorge Osborne stood up today just after 12.30 to deliver his 8th Budget as Chancellor. With the EU referendum looming large and increasing nervousness that much of the developed world is facing an economic downturn, many experts predicted a relatively quiet Budget. Was this the case? Read on to find out. Mr Osborne started bullishly, suggesting he would report on a very positive economic outlook for the UK, which was growing at a faster rate than other developed economies, and is on course for a budget surplus. However, he quickly turned to the “headwinds” ...

Pensions: Plans to change pension tax-relief shelved

A drawer cabinet with the label PensionPlans to alter the tax-relief given to people who make pension contributions have been shelved. Over the past few weeks, speculation has been mounting that George Osborne was planning a radical overhaul to the existing system of pension tax-relief, causing concern amongst many investors, all that now seems to have changed. How does pension tax-relief work? Currently, for every £80 paid into a pension, the Government adds an additional £20 through tax-relief. Higher rate taxpayers can claim back an extra £20, taking the net cost of a ...