INCREASED CONTRIBUTIONS FOR WORKPLACE PENSIONS IN 2018

Auto-enrolment of staff in workplace pension schemes now applies to even the smallest of employers, although there are exclusions. The current minimum contributions are 1% from the employer and 1% from the employee but these limits are scheduled to increase to 2% and 3% respectively from 6 April 2018. The contributions will then increase to...

How often do you review your Pension, Savings and Investments? by NWFS

Has your Bank or Pension provider stopped providing you with a regular review service? Most people who save or invest money would agree it is a good idea to regularly review how your investments are growing and decide if you need to make changes. If you don’t review your savings and investments regularly, you could...

Planning for the longest Holiday of Your Life : by NWFS

What’s the difference between an Old Age Pensioner and a Retired Lady/Gentleman?   Retirement planning has often been described as planning for the longest holiday of your life, and it has two distinct stages: The accumulation phase: A period when you will build up and grow your assets throughout your working The decumulation phase: The...

Tax Tips: by North West Financial Solutions

Its Almost the Tax Year End, so we have listed some Tips for Tax savings! Make use of your tax-free ISA allowance.  The annual limit for 2016 is £15,240, the same as it was for 2015. This can all be put in a cash ISA, but with rates low and the first £1000 of interest...

Year End Pension Planning

Take advantage of the pension carry forward rules in order to benefit from any unused allowances from the previous three tax years.  This is generally the difference between the old £50,000 annual pension allowance and your pension input that year and can be added to your relief for 2015/16.  Note that the annual pension allowance...