More allowance cuts… The annual allowance – the maximum total tax-efficient contribution that can be contributed to pension plans by you or on your behalf during the tax year – was cut from £50,000 to £40,000, but from 2014/15 rather … Continue reading →

Another turn of the screw Mr Osborne’s new-found favourite percentage – 1% – cropped up in the capital taxes area as well as income tax and benefits: Inheritance tax The Chancellor announced that the nil rate band would rise by … Continue reading →

Less of a Statement, more of a Budget The Autumn Statement was delivered by the Chancellor on 5 December. In theory, on becoming Chancellor Mr Osborne abandoned the Pre-Budget Reports that were Gordon Brown’s pre-Christmas showpiece, in place of a … Continue reading →

The Financial Services Authority’s (FSA’s) review of the mortgage market has raised some awkward questions. The FSA issued a paper last month in which it set out new rules for the mortgage market. These rules, according to the FSA, ‘will … Continue reading →