Q. I noticed that the Summer Budget announced last week there is going to be a fundamental review of tax relief for pension schemes. Could tax relief for pension contributions disappear altogether? A. You are right, the Government has already kicked off a fundamental review of the pension tax framework to ensure it remains fit for purpose,… 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 »
George Osborne will issue his final Autumn statement of this parliament on the 3rd December. He is expected to confirm the final rules governing pension freedom to be effective from 6th April 2015. We are also hoping for clarification regarding the changes to taxation of trusts which have been subject to significant consultation. What we… Read more »
Rutherford Wilkinson in conjunction with members of Trinity Chambers Matrimonial Finance Team, will be delivering a summary on the surprising and unexpected pensions announcements in the 2014 Spring Budget. The session, entitled “A bolt from the blue – Impact of the Spring Budget in matrimonial finance cases”, will offer some views on the financial planning… Read more »
Q. I am approaching retirement. I am a member of my employer’s group personal pension scheme and I had anticipated using these savings to purchase an annuity. However, I think I’ve heard that the requirement to purchase an annuity has been abolished. Is this correct? A. Yes. The Chancellor of the Exchequer, George Osborne, delivered his budget… Read more »
