Category: Technical Library

The Care Act 2014

The Care Act 2014 which received Royal Assent on 14 May 2014 sets out the legal framework for the provision of adult social care in England. In part, it implements changes put forward by the Dilnot Commission. In broad terms, the Act follows an individual’s ‘journey’ in the care and support system and maps out...

Offshore bonds get £5k tax free savings boost

Offshore bonds have been given a double tax boost. Changes to how savings income is taxed will mean a greater number of offshore bond savers will pay no tax on their bond gains. The twin measures will first see the savings rate tax band extended to £5,000 and the tax rate cut from 10% to...

Child benefit and pension contributions

Child benefit and pension contributions Child benefit can be taken for granted. But it can also be taken away. Where someone in the household earns more than £50,000, the benefit begins to be withdrawn by way of a tax charge. This could mean losing out on £2,475 for a family with three children. For individuals...

Playing catch up to gain pension freedom

Pension Freedom Now may be the right time to play catch up for any individuals who’ve neglected their pension savings in recent years or have relied solely on their employer’s scheme to provide for them in retirement. The new pension freedoms have provided a fresh incentive to save for retirement. Unlimited access without the need...

New pension death options

New pension death options Less tax and more choice! The new pension benefits rules will have individuals giving more thought on how they can provide a legacy from their remaining pension pot. The changes from 6 April will see pension pots become far more inheritable than ever before. But prompt action may be needed to ensure...

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