Bournemouth Accountants and Financial Advisers News, Ward Goodman Chartered Accountants
autumn statement

Another pension annual allowance cut

Posted under Tax Briefs, Ward Goodman News.

The Autumn Statement revealed plans for another annual allowance cut When pensions flexibility was announced in March 2014, it did not take long for tax planners to realise that it offered an interesting opportunity to “pay” the over-55s. The idea was that, instead of pay which is subject to national insurance contributions (NICs) and full…

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salary sacrifice

Attention staff: the cafeteria is closing

Posted under Tax Briefs, Ward Goodman News.

The Autumn Statement confirmed plans to limit the scope for salary sacrifice arrangements. In recent years, the number of employers offering ‘cafeteria’ remuneration has steadily increased. Under the system, employees can swap pay for benefits, which can range from anything from mobile phones through to company cars or gym membership. The advantage of visiting the…

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unpaid work

Putting a price on unpaid work

Posted under Tax Briefs, Ward Goodman News.

The Office for National Statistics has been examining the value of unpaid work. Every three months the news headlines draw attention to how much UK gross domestic product (GDP) has changed over the past quarter – the last reading was +0.5%, better than many experts had predicted in the wake of the Brexit vote. However,…

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pension annuities

Second-hand annuities: not for sale

Posted under Tax Briefs, Ward Goodman News.

The Treasury has changed its mind about allowing the sale of pension annuities. When pensions flexibility was announced in March 2014, one of the inevitable criticisms was that the reform came too late for those who had already turned their pension pot into an annuity. A year later the then Chancellor attempted to respond to…

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