Pensions Regulator names and shames those who fail to comply.

The latest Compliance and Enforcement Bulletin from the Pensions Regulator (TPR)  makes interesting reading as it sets out cases and the powers TPR have used relating to automatic enrolment and associated employer duties. TPR are warning employers that ignoring TPR penalties could seriously damage a business’ reputation. TPR are maintaining a tough approach towards those […]

Scots abroad- potential incorrect tax demands.

The Scotland Act 2012 gave the Scottish Parliament the power to impose a Scottish rate of income tax on Scottish taxpayers. Scottish income tax applies to wages, pensions and most other taxable income.  A Scottish taxpayer for these purposes is someone who is resident in the UK, has a “close connection” to Scotland or who […]

Capital gains tax on transfers to an ISA

The introduction of the personal savings and dividend allowance was welcome relief following the announcement that dividend income within the basic rate band would attract a 7.5% income tax charge. However, ISAs still remain a useful tool for mitigating your personal tax exposure. The interest or dividends received within your ISA wrapper are free from […]

Is marriage beneficial from a tax point of view?

While not particularly romantic, we are often asked “Is marriage beneficial from a tax point of view? Most tax benefit rules do not recognise cohabitation; the focus tends to be on single or married people. From 2002-2015 the proportion of adults cohabiting rose by a third from 7.5% to 10%.  The rate for those aged […]

The new pension freedoms may result in overpaid tax on pension withdrawals

Potential tax trap on pension withdrawals – have you overpaid tax on pension withdrawals? Under the pension freedoms which were introduced in April 2015, the over 55’s have the ability to withdraw lump sums from their pension funds before they start taking regular income or purchase an annuity.  This can lead to unexpected tax consequences. […]

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