Rutherford Wilkinson operations director Trevor Clark answers readers’ Your Money queries in the Journal on the pensions advice allowance and the tax implications of selling an inherited property. If you have a question about any aspect of financial planning you would like Trevor to answer, please email it to: yourmoney@rwpfg.co.uk. Q: I think the pensions advice… Read more »
Below are some of the key announcements in the Budget: Self-employed workers will see their Class 4 national insurance contributions (NICs) increase by 1% to 10% in April 2018, with a further percentage point rise to 11% from April 2019. The government had previously announced that Class 2 NICs will be abolished from April 2018. The… Read more »
The Budget will be the last one to be held in March, with future fiscal statements moved to the Autumn, with one a year, rather than the two we have had. Therefore, it is not expected that there will be radical moves announced by Chancellor Phillip Hammond, with those saved for later in the year. However,… Read more »
Q. My wife and I live in a house which is worth £1.5million, so we were pleased when the Chancellor announced that an extra amount of our estate would be free from inheritance tax on our deaths. Now one of my neighbours tells me we may not qualify for this exemption. Can you explain? A…. Read more »
Q. I have had my payslip through and the amount of National Insurance I am paying seems to have gone up considerably. Why didn’t I hear something about this, as it seems like a tax increase? A. I am guessing that you are a member of a pension scheme which was contracted-out of the State… Read more »
