Combining pensions. What you need to consider If you’ve started a new job or have gathered a few different pension plans over the years, it can be tricky to keep on top of what you have. It’s usually possible to combine your pensions into one pot but this comes with pros and cons – we…
Tax planning with redundancy payments Redundancies are an unfortunate consequence of current times. And with the Government’s furlough scheme coming to an end, there may be more employers who will need to make cuts to their workforce. It’s important that those facing redundancy understand what is included in their lump sum payment, how it’s taxed…
Please see below a brief factual summary of the Chancellor’s announcement last Thursday. Employees For the six months from 1 November , the new Job Support Scheme (JSS) will protect viable jobs in businesses who are facing lower demand over the winter months due to COVID-19. Employees for whom JSS claims are made will need…
The Chancellor yesterday made his “Summer Statement”. I have summarised the key points and the potential impact for your clients and their families below. As always if you have any questions please let me know. Economic Backdrop In the first two months of the FY 2020/21, UK government borrowing has exceeded £100bn and according to…
If Isla reconsiders her pension contributions and her OEIC position, she could get a head start on any market recovery when it comes. The case Isla is a UK resident and a senior executive at a large multinational firm. She has been subject to the tapered annual allowance since its inception in 2016/17. Her total…
One Day A Week dedicated to NHS Staff for a 15 minute Zoom Call At Our Cost Our amazing NHS workers are facing an extremely challenging and daunting future. They are essentially putting their lives on the line for us. Day in. Day out. On top of the worries of the coronavirus pandemic, we have…
Bentley IFA has been reviewing the various support schemes offered by the government. Please find below the updated government matrix, which includes details for rules on supporting the self-employed. Individuals / Employees Self-Employed Individuals* Businesses / Employers* Coronavirus (COVID-19) helpline – Webchat – Speak to an adviser – for problems paying taxes due to coronavirus (COVID-19),…
Is the impact of the Wuhan Coronavirus being offset by better news elsewhere? Comparing the current Coronavirus with previous endemics is likely to be misleading, as they differ in terms of the speed with which they spread, and the ratio of fatalities to the total number of people infected. Alarmingly, more people have been diagnosed with…
Answer: a pension. Bear with me, because this is not the normal argument about the value of saving for retirement, even if all that stuff is true, and what I would normally lead with in an article like this. Imagine for the sake of argument that your grandchild is born in January next year. Given…
Master trusts could lead to poorer retirement outcomes than group personal pensions, as these schemes don’t allow for adviser charging, Royal London has claimed. In its 24-page policy paper Group Personal Pension or Master Trust? – A guide for employers published last week (April 25), Royal London stated if employees are enrolled into a master trust they…
