Q. I run my own company. I have a pension term assurance policy which is due to expire when I am 60 in a couple of months time. I expect to continue to work, possibly until I am 70. Can I do a replacement plan with the same tax benefits? A. Pension Term Assurance is no longer… Read more »
Q. My husband, who was 56, suffered a heart attack last year. His employer offers a Group Income Protection policy, so his income will continue to be paid while he is off sick, albeit at a lower level. Can he access his pension fund as well to boost our income. A. Firstly, I am sorry to… Read more »
Q. I have £12,000 to invest before the end of the tax year. I am 53 years old, and a higher rate taxpayer. Would you suggest an ISA or a Personal Pension contribution? A. The short answer is “Yes”. Both ISAs and Personal Pensions are tax-efficient ways to invest, and with the changes in April meaning that… Read more »
Q. I have just been issued with a mobile phone by my employer (not at my request) and am concerned it will end up costing me money as I believe I will have to pay tax on it. I don’t really need a mobile phone and feel my employer should pay any tax I will… Read more »
Q. I have heard that it is possible that inflation will become negative in future and this could be a bad thing. Can you explain why it is not good for things to become cheaper? A. Deflation is the term for the opposition of inflation, and relates to prices becoming lower year on year. Based on the… Read more »
