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UK Pension Tax on Death Benefits Proposed Change
On 18th July the UK government announced a consultation on pension taxation linked to the abolition of the Lifetime Allowance. It also considers other aspects of tax linked to pensions and proposes a significant change. Currently where pension member dies before age 75, benefits received by a beneficiary are generally outside the scope of income…
British Expat Pensioners Face Tax Increases
British overseas pensioners holding pensions offshore will be liable to pay more tax under new plans outlined by the Government. Currently, people who draw income from Qualified Registered Overseas Pension Schemes (QROPS) only pay 90% income tax on income generated by the fund. However, new proposals will make expat pensioners liable for the full income…
A trade war no one could afford to win
A trade war no one could afford to win A client asked at the start of last week: “Will the US and China reach a trade agreement?” Our short but confident answer was: Yes. Longer answer: Because the maths, the money and the politics all say they must. And sure enough, the US and China…
A week in the markets: 26/07/22
European equity markets were relatively muted on Friday, with the FTSE All-Share modestly up +0.2% and the STOXX 600 up +0.3%. However, US equities fell, selling off through the day, led lower by growth sectors after disappointing earnings reports, particularly in social media. The S&P 500 ended down -0.9%, the Dow Jones Industrial Average down…
UK State Pension What is the triple lock?
The triple lock was introduced in 2010. In a nutshell, its purpose is to make sure that the State Pension doesn’t lose value over time. It guarantees that, each year, the State Pension will rise by the highest of three measures: Average earnings, Inflation, as measured by the Consumer Prices Index (CPI), Or 2.5% So,…