Top saving allowances. - 12th March 2019
The end of the tax year is in sight, so now is a great time to have a good look at your finances and make sure you are making the most of this year’s savings allowances and maximising your saving potential.
The end of the tax year is in sight, so now is a great time to have a good look at your finances and make sure you are making the most of this year’s savings allowances and maximising your saving potential.
WEALTH at work recently carried out a poll of over 70 employers and found that 91% of them believe that employees do not understand the tax rules when withdrawing money from their pension.
As part of the government’s plans to help individuals save more for retirement, minimum automatic enrolment contribution rates are due to rise from 5% to 8% in April. But is this enough to secure an adequate retirement income and what more can be done to help employees?
Christmas is an expensive time of year as the cost of presents, decorations, meals out and entertaining all add up. Individuals intend to spend £567 each at Christmas, with 46% planning to pay for it using credit cards, store cards and overdrafts.
The New Year is a great opportunity to take a good look at your finances and make financial plans for the coming year.
Individuals could end up paying 200 times more tax depending on the way they decide to access their retirement income, according to research by the Pension Policy Institute (PPI).
The Chancellor of the Exchequer, Philip Hammond, has today delivered this year’s Budget Report.
Nearly 2000% more than ten years ago when the allowance was introduced.
In this current low interest rate environment it’s important to shop around for a saving account as the rates can vary. Before doing this it’s important to think about what you are actually saving for, as there are a variety of saving vehicles available to meet different objectives.
According to research by WEALTH at work, 80% of employers believe their employees are not saving enough for retirement.