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 »
Q. I have an interest-only mortgage, which I intend to repay by using the funds held in my ISA and the tax-free cash from my pension once I reach age 55. However, I read an article recently that stated that the government is set to restrict the amount that can be held within an ISA and… Read more »
Q. I am a physiotherapist and I am self-employed. A colleague has told me that HMRC is scrutinising the tax affairs of all those who work in this sector, with a view to increasing its revenue. Is this correct? A. To an extent, yes, this is true. HMRC has conducted a number of disclosure campaigns in… Read more »
Q. I am due to retire shortly after the introduction of the new single-tier state pension in 2016. Please can you tell me how my state pension entitlement will be calculated under the new system and how will my National Insurance Contributions, paid under the current regime, be taken into account? A. Yes. The new flat-rate state… Read more »
Q. I work in local government and I am a member of the Local Government Pension Scheme. A colleague has told me that the pension scheme is set to change. Is this correct? A. Yes. Regulations were introduced recently that will govern how benefits are accrued and administered under the Local Government Pension Scheme (“LGPS”), with effect… Read more »
