Pensions

FREE AUTO ENROLMENT & XERO ACCOUNTS SEMINAR (AND LUNCH)

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xero-logo-hires-RGBPension-PeopleAuto Enrolment – everything you need to know about it and the lack of time you have to implement it!

Xero Online Account – How to keep your books sitting on a beach in Hawai whilst drinking cocktails!

Morrell Middleton have teamed up with Ardent Financial advisers to discuss the in’s and out’s of implementing the Governments solution to the pensions crisis – Auto Enrolment.

The rules will apply even to individuals who employ just one person, such as a nanny or gardener. Employers will have to enrol workers who are classified into 3 areas, Entitled Worker, Non-Eligible Jobholder and a Jobholder. Who is which and what you have to do for them is all in our notes!

Time to review your inheritance and trust fund arrangements?

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Mortgage calculator. House, noney and document.

Thousands of families who set up “discretionary trusts” so they could leave property to children in a tax-efficient manner will miss out on the Government’s valuable new inheritance tax allowance unless they make significant changes to their will, it has been warned.

Homes left to children through a discretionary trust will not benefit from the “family home allowance”, worth up to £350,000 per couple from 2020, because assets do not pass directly to children. Discretionary trusts – the most common form of trust – were widely used in the past to minimise inheritance tax (IHT).

Pension reforms leaves an “open trap door” for 70% tax charge on withdrawals

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Thousands of older savers who use the new pension freedoms to pay off debts could be forced to pay 70% tax on withdrawals they expected to be tax-free if they continue to save for retirement, pension experts have warned.

A little-known quirk in the rules designed to prevent pensioners abusing the tax system means that even over‑55s with modest pensions are at risk of unwittingly breaking official savings limits. Tweaks which mean the rules now affect far more people were quietly made in April this year.

Are you next on the taxman’s hitlist?

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Arthur DaleyTax crackdowns have arrived thick and fast in the past three years. Officials have targeted everyone from doctors to Avon ladies to claw back £35bn lost in unpaid tax each year – and more inquiries are in the pipeline.

Accountants claim that HM Revenue & Customs focuses on “soft targets” through special task forces that investigate specific job sectors.