Budget Archives - Moore Stephens Financial Services

Using pension freedoms could mean a £4,000 maximum annual pension contribution limit

Posted by | Budget, News, Pensions, Politics, Tax | No Comments

The Autumn Statement passed relatively benignly and only time will tell whether our new Chancellor has saved his best for the March 2017 Budget. Certainly the one area of pensions reform which all professionals seem agreed on, the possible abolition of the pensions Lifetime Allowance, was notable for its absence or indeed any reference to pension contribution limit changes, bar one which has seemingly snuck under the radar. The Chancellor…

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Pensions Tax relief – What is Philip Hammond’s policy?

Posted by | Budget, Pensions, Politics, Tax | No Comments

The Autumn Statement will be upon us again in November and it seems like we will be dusting off the same potential threats to tax relief on pensions as we have fretted about for the past couple of years. The Government have pulled back from acting upon the rumours at the last minute in recent years, but this time it might just be different. This will be Philip Hammond’s first…

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The March 2016 Budget was one of the most hotly anticipated in recent times, but did it warrant the hype?

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The main concerns for us surrounded the future of pensions tax relief and the 25% tax free lump sum available when you draw benefits from pensions. After much speculation, the Chancellor has left pensions tax relief alone, which means another opportunity for higher rate taxpayers to benefit from higher rate tax relief next year. We would sound a warning on this, as we feel the clock is ticking and the…

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