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 »
Pension’s Triple Lock to stay for now; NS&I 2% savings bond; Money purchase annual allowance (MPAA) reduced to £4,000; Restrictions on salary sacrifice; Consultation on banning pension cold calls Triple Lock, MPAA reduction and consultation on Cold calling ban The Herald, Pensioners to keep triple lock but reform is on the horizon, 26th… Read more »
Q. I am approaching the age of 75 and have a personal pension plan which I have not yet touched. I was intending to leave it to my only daughter. However, I am being pestered by my financial adviser to take some money from the fund before I reach 75, but I don’t understand why… Read more »
Q. I retired before the new flexibilities came out in April this year. I have a pension annuity and have heard that I might be able to sell it, is that correct? A. It has been widely publicised that this may be an option from as early as April 2016. This was obviously announced under the last… Read more »
