10 things to do to save tax in the new tax year

Check your PAYE tax code The tax code is the identifier that tells an employer how much tax should be deducted from people’s salaries when they get paid. It’s important to check your tax code. If you have multiple employers or pension providers, you may get more than one tax code. If you’re on the wrong…

HOW MUCH CAN I PUT INTO MY PENSION

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  Even the best laid plans can go awry and with three potential types of pension annual allowances to deal with, it is inevitable that maximising pension contributions for clients might be left close to April 5. ‘How much can I contribute to my pension this year?’ seems a simple question on the face of it,…

Writing a will with Bentley IFA

UK Inflation will continue to rise due to continuing supply issues and rising energy prices. Average UK Inflation expected to be more than 4% in 2022. Impacting savers with negative real interest rates Tax currently is at its highest as a % of GDP since the 1950s. As announced in September the Health and Social…

Budget 2021

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Budget 2021 – what you need to know In a Budget dominated by measures aimed at helping businesses and the economy recover from the impact of the coronavirus pandemic, there were also some significant announcements when it comes to your pensions, savings and the tax you pay. Chancellor Rishi Sunak’s second Budget, delivered on 3…

Combining pensions

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

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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…

‘Summer Statement’

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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…