On April the 6th 2016, the pensions Lifetime Allowance (LTA), ie the maximum level of tax-protected pensions savings that you can accrue over your lifetime, reduced from £1,250,0000 to £1,000,000. Pension savings above the LTA will be taxed at 55%. … Continue reading →

The first quarter of the year is over. For all the excitement over the last three months, from end to end, not much happened. Do you remember back to the first half of February, when markets were full of doom … Continue reading →

The Chancellor hopes to raise another £12bn from anti-avoidance measures announced in the Budget. A Budget would not be a Budget without the announcement of a range of new measures to counter tax avoidance and tax evasion. The latest Budget … Continue reading →

The announcement of the Lifetime ISA suggests that the Chancellor has not given up on his ideas for reforming the taxation of pensions. Shortly before the Budget there was an unofficial announcement that the much leaked (but equally unofficial) plans … Continue reading →

The burden of income tax was reduced slightly in the Budget, but anomalies remain. The personal allowance will rise from £11,000 to £11,500 in 2017/18 and the higher rate threshold – the starting point for 40% tax – will rise … Continue reading →