Monthly Archives: April 2014

The government announced recently that people who have recently taken a tax-free lump sum from their defined contribution pension will be given 18 months rather than 6 months to decide what they wish to do with the rest of their retirement savings, and will not be put at a disadvantage should they wish to wait to access their pension savings Continue Reading

At present, it is possible to make an election, in certain circumstances, allowing owners of more than one residential property to choose which property is their main residence. In this way a measure of Private Residence Relief (PRR) can be achieved for the elected property. This process of swapping properties for tax purposes achieved notoriety during the MPs’ expenses scandal Continue Reading

It would seem that economic indicators confuse economists as well as the rest of us. The first two paragraphs of the recently published Executive Summary of the OBR makes for interesting reading.  Here’s a bullet point summary: The UK economy has continued to recover. In the final quarter of 2013, GDP growth matched our December forecast, inflation fell back to Continue Reading

Employers are reminded to claim the £2,000 Employment Allowance which commenced 6 April 2014. Basically, employers can reduce their National Insurance contributions by a maximum £2,000 in the current tax year.  Here’s the instructions on claiming the allowance as posted on GOV.UK’s website:  “You can use your own 2014 to 2015 payroll software (see your software provider’s instructions), or HM Continue Reading