Q. A friend of mine said that with the tax changes coming into force in April, there is no longer any point in investing in ISAs (Individual Savings Accounts). Is this true? A. From April, individuals will have a “Personal Savings Allowance” of £1,000 if they are a basic rate taxpayer, or £500 if they… Read more »
Q. I have a deferred pension with my previous employer. It is a Final Salary Pension which I can draw in three years time. I have recently received a transfer value and am quite amazed at the size of it in relation to a transfer value I had quoted about three years ago. It is… 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 am about to cash in my smallest pension pot, which after tax will give me just enough to repay my outstanding mortgage of £15,000. Other than the tax situation, and the fact that I am spending some of my retirement income now rather than when I retire, both of which I understand, are there… Read more »
Q. My Parents have recently retired but are contemplating working part time to pay the remaining mortgage off. My Wife and I are in a position to repay this fully to help them out, but how will this affect our inheritance and will we become owners of my parents home? A. You can indeed pay… Read more »
