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Friday 21st of January 2011

News Tag: April 2011

October 14, 2010

Pension tax relief slashed as Government looks to save more money

by Kay Murchie
Pension tax relief slashed as Government looks to save more money
It has been announced that the Government is to reduce the annual amount of pension tax-free income in order to save £4 billion a year, to reduce the spiralling budget deficit. The tax-free amount is being slashed from £255,000 a year to £50,000 from April 2011. High earners will continue to be paid tax relief on pension savings ...



ISA allowance to increase next year

by Kay Murchie
”ISA
It is understood that the amount of money people can save into an Individual Savings Account (ISA) will increase by £470 next year. From April 2011, the annual tax-free savings allowance will rise from £10,200 to £10,670, while the amount for a cash ISA will rise from £5,100 to £5,335. The rise is in accordance with the announcement made in the Budget and ...