A new personal savings allowance will come into existence in April 2016. “Today I introduce a new Personal Savings Allowance that will take 95% of taxpayers out of savings tax altogether”. So said the Chancellor in his Budget speech. While … Continue reading →

The lifetime allowance is to be cut again. The lifetime allowance (LTA) is a key component of the pension tax rules. It effectively sets the normal maximum value of retirement/death benefits, beyond which a tax charge of up to 55% … Continue reading →

The Chancellor has announced increased availability for Pensioner Bonds. When National Savings & Investments (NS&I) finally launched the Pensioners’ Bond on 15 January 2015, there was a very predictable surge of interest. The sheer weight of applications brought problems to … Continue reading →

5 March marked the sixth anniversary of 0.5% base rates.     When base rate fell to 0.5% back in the dark days of March 2009, there were no expectations that such a low figure would endure well into the … Continue reading →

This year’s Budget was pretty political – which is no great surprise given the forthcoming general election in May. There can be little doubt that a number of the Chancellor’s measures were designed to attract voters. Non-pension savers, for example, … Continue reading →