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Tag Archives: George Osborne

Pension time bomb


Planning to prevent the financial equivalent of climate change Millions of workers across the UK could be heading for a significant shortfall in the amount of pension they need for an adequate income. The World Economic Forum (WEF) has issued … Continue reading

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Brexit: the point of maximum impact


The economic effects of leaving the EU could cause unemployment to rise in the UK which would reduce the pressure for wage growth. The Treasury estimated that wages will be between 2.8% and 4% lower at the point of maximum … Continue reading

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UK’s exit from the European Union after 43 years


The UK’s exit from the European Union after 43 years is now set to happen. The vote by a majority of British people to leave the European Union on Thursday 23 June represents a very significant decision for the UK, … Continue reading

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Buy-to-let and second homes


Higher stamp duty payable from April 2016 Buy-to-let landlords and people buying second homes from April this year will have to pay a 3% surcharge on the stamp duty charged for the property.

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Pension credit


Cuts for people who go abroad for over a month People who go abroad for over a month will no longer be eligible for pension credit. At present, housing benefit and pension credit recipients can go abroad for up to … Continue reading

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Taxing times


Reduction in the amount those with income of more than £150,000 can contribute tax-free to pensions each year A gradual reduction in the tax-free limit on pension contributions from the current £40,000 a year to £10,000 for high income individuals … Continue reading

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July Budget 2015: Inheritance Tax


New main residence transferable nil-rate band From April 2017, the Chancellor, George Osborne, announced there will be a new main residence transferable nil-rate band (family home allowance) that will apply when a main residence is passed on to a direct … Continue reading

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Pension freedom


The most radical reforms this century In Budget 2014, Chancellor George Osborne promised greater pension freedom from April next year. People will be able to access as much or as little of their defined contribution pension as they want and … Continue reading

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Pension tax charge abolished sooner rather than later


New rules will simplify the existing regime from April 2015 The Chancellor, George Osborne, has brought forward the expected announcement on the tax charge that applies to certain individuals’ pensions on their death. The new rules will simplify the existing … Continue reading

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