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Private pension contributions

Private pension contributions

by | Aug 22, 2024 | News, Advice

Tax relief on private pension scheme contributions is a significant incentive in the UK, encouraging individuals to save for retirement. Here’s how it works according to GOV.UK: Basic Rate Tax Relief (20%): If you are a basic rate taxpayer, your pension contributions...
DWP reforms

DWP reforms

by | Aug 19, 2024 | News

DWP reforms Liz Kendall recently set out how Britain’s system of employment support must be fundamentally reformed to tackle the “most urgent challenge” of spiralling economic inactivity. In a Department for Work & Pensions press release issued 23 July 2024 it was...
Opportunity knocks for owners of holiday lets

Opportunity knocks for owners of holiday lets

by | Aug 16, 2024 | News, General Information

From April 2025, the present tax breaks enjoyed by owners of Furnished Holiday Lets (FHLs) will cease and FHL income and gains will be taxed in the same way as other property businesses. Currently, FHL owners benefit from tax advantages, as compared to non FHL owners,...
Taxing Times

Taxing Times

by | Aug 2, 2024 | News

In a recent announcement to parliament, the Chancellor confirmed the current year deficit in the government finances of £22bn. She set out some of the reductions in public expenditure to close the deficit but hinted that there may be tax increases required to balance...