Summer 2014 – Newsletter
The Budget was full of surprises, particularly with the Chancellor’s announcement of major changes to the ways in which people can access their pension benefits in retirement. Our summer Newsletter includes important information so take this opportunity to relax in the sunshine (!) and start planning for the second half of the year - which will be upon us sooner than you think!
Our feature this edition is Pension flexibility on the horizon where we examine the Chancellor’s proposals for defined contribution pensions and how these changes will affect you.
Our other articles include:
PAYE reporting – year two of Real Time Information if you have more than nine employees but fewer than 50, you should have started real time PAYE reporting from 6 April.
Increasing the limits for ISA investment and relaxing some rules it is always a good idea to take advantage of your individual savings account (ISA) allowance at the start of the tax year. The ISA investment limits will be increased from 1 July 2014 so don’t miss this opportunity to top up your ISA by even more!
£2,000 NIC cut for employers The new Employment Allowance introduced from 6 April is particularly good news for smaller employers – the amount of employer class 1 national insurance contributions (NICs) each employer pays to HMRC will be reduced by up to £2,000 each tax year.
Tax relief cut for multiple home owners the value of a useful capital gains tax (CGT) relief has just been cut, which you should be aware of if you have more than one home.
If you would like to have more information about any of these or other articles in the newsletter and their relevance to you, please let us know.
Click here to download our Summer 2014 Newsletter
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