New Savings allowance

A new savings allowance is available to basic and higher rate taxpayers for 2016/17. The amount available depends on the individual’s circumstances: If any of the individual’s income for the year is additional rate income then the individual’s savings allowance for the year will be nil. If any of the individual’s income for the year…

The limits that you need to be aware of if you are you thinking about making a pension contribution before the end of the tax year

Reviewing your pension position is always a good idea before the end of a tax year. As we are approaching the end of the 2015/16 tax year now is a very good time for giving this some thought. Making contributions can preserve personal allowances for anyone whose income is above £100,000. Pension contributions can be made…

Cash ISA’s

As you can see from the questions below, a number of our clients are becoming concerned about the very low interest rates that are available within cash ISA’s. “I have several Fixed- Rate Cash ISAs maturing during the next few months, these are now offering much lower rates than I currently have?”  “I have just…

Five ways to maximise your pension return

Sibbalds Financial Services (our sister company to Sibbalds Chartered Accountants) are today turning their attention to Pensions, and have come up with five simple ways for you to maximise your pension return: 1 Start early. Soon-to-be pensioners should start thinking about how they wish to draw an income from their pension well in advance of retirement. An initial…

Critical Illness Cover

Sibbalds Financial Services (our sister company to Sibbalds Chartered Accountants) are back, answering the questions which you have sent us this week. Today’s question focuses on Critical Illness Cover, particularly how children could also be protected by your policy. Question 1: Q. I have been looking into taking out Critical Illness Cover; do plans insure…