Are you ready for the increase in pension rates ?
From the 6th April 2018, auto enrolment pension rates are going to increase. It’s important that you’re ready for these contribution increases so that the correct amounts are deducted from your payroll at the right time if you are employer. If you are an employee, you will be paying higher contributions so you need to […]Read More
What is the “pension triple lock” ?
Q1. So, what is the “Pension triple lock” you hear about ?. A1. It is simply a guarantee to increase the UK state pension every year by the higher of – inflation or, – average earnings or – a minimum of 2.5%. Q2. When does it apply from ?. A2. introduced by the coalition Government […]Read More
3 quick items of interest
Just a three quick items of interest if you are self-employed, or are self-assessed taxpayer…. Class 2 NIC’s It was announced in the recent 2016 budget, that Class 2 National Insurance Contributions would be scrapped from April 2018. Yes…you read that correctly !. Currently you are paying £2.80 per week if you earn a PROFIT […]Read More
Withdrawal of pensions
You will be able to make any withdrawals you wish from your pension fund after 5 April 2015. Before that date there are restrictions over how much you can withdraw, but you can still take 25% of your fund as a tax-free lump sum. Any amount taken in excess of the 25% tax-free lump sum (before or after 5 April 2015) […]Read More