Amid all the recent discussion about possibly abolishing the default pension age, support for the move comes from a surprising quarter – SMEs!
It is generally felt that the existing arrangement whereby businesses can require employees to retire when they reach the age of 65 favours employers, but it seems SMEs take a different view, adopting a more flexible approach to the issue. (more…)
Tags: Government, SME, tax planning
Posted in UK accounting | Comments Off
Reviewing your inheritance tax strategy on a regular basis is an important part of tax planning, and the tax year end is a good time for a quick ‘maintenance review’. (more…)
Tags: Gordon Brown, Inheritance Tax, Personal tax returns, tax planning, tax relief
Posted in UK accounting | Comments Off
As with income tax, each person has an annual exempt amount, which is wasted if not used. For married couples and civil partners this can be effectively managed by ensuring that assets that are sold at a gain are either jointly owned or that each partner sells some assets to cover their annual exempt amount. (more…)
Tags: Capital gains tax (CGT), Personal tax returns, tax planning, tax relief
Posted in UK accounting | Comments Off
Pension contributions are paid net of basic rate tax, and the pension provider recovers the tax element. Up to £3,600 per year (gross) may be invested by any individual irrespective of whether they have earnings to match it or not. (more…)
Tags: Pension contributions, Pensions, Personal tax return, tax planning
Posted in Australia, Canada, France, New Zealand, UK accounting, USA | Comments Off
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