Q. I have read that the government intends to review “Deeds of Variation” with regard to inheritance tax. Does this mean I need to review my will? A. A deed of variation is the facility to alter the terms of a will, or possibly the rules of intestacy, up to 2 years after someone dies. This… Read more »
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 »
