In certain circumstances, receiving the child benefit can result in a tax charge. This article looks at ways to reduce or eliminate the charge.
Local Authorities may charge for the care they provide or arrange in residential care homes. The level of financial support they will give for this care can be affected by income provided, or that could be provided, from a pension plan.
England & Wales - Charging for Residential Accommodation Guide (CRAG)
Northern Ireland - Guidance on Charging for Residential Accommodation
HM Revenue and Customs (HMRC) produce a number of manuals for their staff. The guidance contained in these manuals is not comprehensive nor will it provide a definitive answer in every case.
Periodically HMRC issue Pension Schemes Newsletters. These cover almost anything to do with pensions and contain valuable information.
Department of Work & Pensions (DWP) factsheet and guide on Pension Credit benefit.
The basic State Pension has been replaced by the new state pension. People who reached State Pension age before 6 April 2015 will receive the Basic State Pension.
When the new state pension was introduced for those reaching pension age from 6th April 2016 it was intended to be much simpler than the system it replaced. In this guide we aim to explain how the new pension works, and how much you could expect to receive.
There are various detailed things to think about when deciding whether or not it is worth topping up your State Pension. This is explained in our step-by-step guide to topping up your State Pension. We hope that it will be useful to you and clients who are considering boosting their state pension in a cost-effective manner.
Since 6 April 2012, it has not been possible to contract out of S2P using a money purchase or appropriate personal pension/stakeholder plan. Since 6 April 2016, it has not been possible to contract out of S2P using a defined benefit scheme.
The new State Pension will replace the basic State Pension in April 2016. Existing benefits will be protected.
The DWP have produced a number of new State Pension factsheets.
This contains information on personal pensions, based on data pension schemes are required to report to HMRC.
It is divided into 4 sections:
section 1 - an introduction to the different types of pensions and their tax treatment
section 2 - commentary and analysis of the main trends in personal pension contributions and tax relief
section 3 - detailed statistical tables:
section 4 - details of the data used in this publication and the estimation methodologies
State, private, occupational and workplace pensions, including pension trends that draws together data from other government departments and organisations.
Number and value of flexible payments made from pensions since April 2015.
Individuals' pensions linked to their workplace, including defined ambition, defined benefit and defined contribution schemes.