Tag: Tax
Alan Kirkman presents at IFP Professional Partners Seminar
IFP have been running a programme of informative seminars for our professional partners for almost 2 years now. The feedback we receive from other professionals is excellent stating that the content is relevant to their work with clients and to the firm operationally. At IFP we are keen to continue to deliver seminars and workshops [...]
Read moreBeware of Early Pension Release
Pension release is when you agree to transfer your pension savings to an arrangement that will allow you to access your funds before you reach the age of 55. In rare cases, such as terminal illness, it’s possible to access pension funds before the age of 55. However, for most people, promises of early cash [...]
Read moreTax on your savings in bank and building society accounts
You pay tax on your savings interest in the tax year that the interest is paid to you, or credited to your account, even if you’ve earned part of it in previous tax years. Savings income normally has 20 per cent tax taken off before you receive it. This is confirmed by the entry ‘net [...]
Read moreMost Pension Savers do not Review Pension Plans and Pots
According to a February 2013 survey of over 2,000 UK adults, conducted by YouGov on behalf of Duncan Lawrie Private Bank, 38% of respondents who are pension savers and who have at least one private pension pot, have never reviewed their plan, while 14% have not done so in the last three years. Women appeared [...]
Read moreThe Increasing Cost of Retirement Income
The cost of securing an income in retirement has increased by almost a third since 2009, statistics from the Office of National Statistics (ONS) have revealed. According to figures published in April 2013, men will need 29 per cent more savings to reap the retirement income that they could have gained in 2009. In 2009, [...]
Read moreMay Market Commentary
“No news is good news” as the old saying goes. By that definition, April was a good month in that there were no disasters. Europe remained relatively stable, Cyprus didn’t implode, Barack Obama and Congress continued speaking to each other and Kim Jong-un kept his finger off the trigger. Mind you, the International Monetary Fund [...]
Read moreWhat products are qualifying components of ISAs?
Many of us are not aware of the considerable range of products which can be part of our ISA holdings. Taking advantage of our tax-free ISA allowance by increasing or organising our ISA holdings in 2013/14, with a concern to choose the best ISA destinations for our savings and investments, might open up a wide [...]
Read moreISAs in 2013/14: a basic guide
An ISA is a type of savings account which enables you to keep all that you receive from that investment and not pay any tax on it. ISAs began in 1999 and should be around for the foreseeable future. You can start with small amounts and save up to £11,520 in the tax year 2013-14. [...]
Read moreThe problem with Cash ISAs
It is the fourth anniversary of UK interest rates falling to a record low of 0.50% and no signs of this changing in the near future with the Bank of England recently hinting at the possibility of a negative base rate. This is continuing bad news of the UK's savers. Although by shopping around you can find [...]
Read morePlanning how to pay for a care home
When moving into, or helping a loved one into a care home, you need to fully understand about costs and affordability, including what the state provides. Paying for a care home place is often a family concern and it may be essential for everyone involved to have a good understanding of the issues. Basically, if [...]
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