Buy to Let: Tax probe to be launched on thousands of landlords?

iStock_000004583777XSmallIf reports in the national press are correct HMRC (Her Majesty’s Revenue & Customs) is about to launch a crackdown on ‘rogue’ buy to let landlords. A report in the Daily Mail, reveals that up to 900,000 buy to let investors and second homeowners could be investigated by HMRC. According to the report, there are an estimated 1.4 million landlords in the UK, but only around 500,000 have registered with HMRC, leading to concerns that millions of pounds are being lost in tax receipts. Tax on property income Income from buy to let ...

Retirement: Keep your options open, retire now and take advantage of new pension proposals

Ready to retire, conceptual words on blackboard.If the proposals announced in last month’s Budget are implemented without change, anyone over 55 will have far greater access to their pension pot after April next year. Each year around half a million people retire; so how can those retiring over the next 12 months, take advantage of the new rules from 2015 onwards but replace their ‘lost’ income now? Access the tax-free lump sum? One option is to take some or all of tax-free lump sum from your pension, use this to pay your bills ...

8 ways you can take advantage of the new pension rules

iStock_000012131210SmallThe proposed changes to pensions, announced in March’s Budget, open up a number of opportunities, both before, during and after retirement. We’ve put our thinking caps on to bring you eight ways you can take advantage of the new rules. 1. £10,500 income each year – tax free! From the 6th April 2015 you will be able to earn £10,500 before you start to pay tax....

Cap on your ISA? Cut in the amount of tax-free cash you can take from your pension?

iStock_000001293543_ExtraSmallIf reports over the past few days are to be believed, these are just two of the more radical ideas being considered by the Treasury. The Sunday Telegraph reported at the weekend, that officials from the Treasury have consulted financial services firms on the effects of introducing a cap on the amount of money investors can hold in Individual Savings Accounts (ISAs), as well as the possibility of reducing the tax-free lump ...