Author: Logic wealth planning

ISA Allowance on Death – Additional Permitted Subscription

Introduction Since 3 December 2014, where a person holding an ISA dies and that person was married or in a civil partnership, the surviving spouse/civil partner is entitled to an extra ISA allowance equal to the value of the ISA(s) held by their spouse/civil partner (even where the spouse/civil partner does not actually inherit the...

Dividend changes – what it means for investors

Next year will see major reforms to dividend taxation.  There will be both winners and losers when the £5,000 annual dividend allowance is introduced next April. Higher rate taxpayers could be better off by up to £1,250 a year (£1,530 for additional rate taxpayers) but some basic rate taxpayer could be worse off by as...

Profit extraction – Dividends & Pensions

The tricky business of profit extraction – Dividends & Pensions The dividend changes will strengthen the case for business owners using pension contributions to extract profits from their company tax efficiently. Many directors of small and medium sized companies may be facing an increased tax bill next year as a result of how dividends will...

How to reduce IHT liabilities

Gifting: How to reduce IHT liabilities Moving £10,000 out an individual’s estate could save their heirs £4,000 in tax. One of the easiest ways to reduce a future inheritance tax (IHT) liability is for individuals to give wealth away during their lifetime. Gifting can be an effective way of saving individuals’ heirs a significant IHT...

How the 2015-2016 PIP rules work

2015-2016 PIP Rules. The Pension Input Period (PIPs) rules are to be simplified so that all pension funding is measured across the tax year from 6 April 2016. Aligning all PIP with the tax year makes it much easier for the vast majority of individuals to understand how much they can pay into their pension...

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