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 benefits in a final salary pension scheme. I like the sound of the new rules whereby I can draw the fund as a lump sum, as I want to buy a holiday cottage. How do I go about this? A. The new rules offering greater flexibility to draw your fund all at once… Read more »
My wife died earlier this year without having made a will. She left an estate valued at approximately £450,000 that was divided between me and our only daughter (in accordance with the intestacy rules). This means that I inherited outright a significant proportion of my wife’s estate and I also have a life interest in… Read more »
Q. My wife and I have been informed that we stand to inherit a significant amount following the death of my wife’s aunt (who had no children and left her entire estate to us). My wife and I undertook some tax planning a few years ago, as our estate was already valued in excess of our… Read more »
Q. I have heard a rumour that the married couples income tax allowance is set to be re-introduced. Is this true? A. Yes, although we will have to wait for the final details and implementation date. The Prime minister, David Cameron, recently unveiled plans to introduce a married tax allowance that is estimated to be worth as… Read more »
