Month: February 2017

No one likes to pay too much tax, so it is surprising that many people are not taking advantage of an important new tax break. Marriage Allowance is a tax concession that can save married couples, or those in civil partnerships, up to £220 each year in tax. HMRC estimates that around 4.2 million couples are eligible. But, less than a million are actually claiming it, despite a high-profile advertising campaign. Are you missing out? Marriage Allowance was introduced in 6th April 2016. It allows non-taxpayers to transfer £1,100 of their personal…

A potentially attractive government scheme, allowing some people to boost their state pension, by paying in a lump sum, closes in April. Time is running out, but there is still time to take advantage of the opportunity, if you act now. What is on offer? The Government has offered up to 12 million older people the chance to convert a lump sum into a guaranteed income for life, on terms significantly better than those available on the open market. The scheme involves making a ‘Class 3A National Insurance voluntary contribution’ and whilst the…