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15 Mar 23

Spring Budget Summary 2023

In his Spring Statement, the Chancellor presented his “back to work” budget with measures aimed to encourage the 8 million or so economically inactive into work. The Office for Budget Responsibility published a fresh forecast, revealing that inflation is expected to drop sharply throughout the year, falling to 2.9% by…
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18 Nov 22

Autumn Statement Roundup Nov 2022

In his Autumn Statement, the Chancellor set out the main Government policies of stability, growth and public services. The Office of Budget Responsibility (OBR) confirmed that the UK economy is in a recession. It predicts inflation will average 9.1% this year, falling to 7.4% next year, although this remains far…
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14 Jun 21

Can I borrow from my pension or use it to buy property?

Pensions are predominantly designed to provide you with an income in retirement.  However, if you are a business owner, a SIPP (Self-Invested Personal Pension) or SSAS (Small Self-Administered Scheme) can offer some features that could help your business. These two types of pension have a number similarities but there are…
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11 Mar 21

Tax year end planning with Covid considerations

Tax Year End Planning – Maximising the benefit of your contributions Normally at this time of year, we would be contacting our clients to ensure that they utilise their annual allowances where affordable and to consider making pension contributions to maximise tax reliefs and to reclaim the lost allowances or…
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04 Mar 21

Spring Budget Summary March 2021

Chancellor Rishi Sunak provided an additional £65bn of fiscal support in today’s Spring Budget, promising the UK Government will do “whatever it takes” to support the UK economy, which is expected to bounce back more slowly than expected this year. The Office for National Statistics (ONS) now expects the UK…
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13 Nov 20

The Annual Allowance Taper

Increased thresholds but lower maximum contributions for those affected The annual allowance taper affects high earners and results in a reduction in their annual allowance, reducing the tax relievable amount that they are able to pay into pensions each year. The taper was originally introduced in 2016 but changes were…
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