Budget 2014 and QROPS

Sandy King
Uncategorized

In what was described in the papers as “revolutionary” for pensions, the budget did little for pensioners in final salary schemes. But, for those in “money purchase” or “defined contribution” schemes, for example those holding pensions with Aviva and Prudential, they will have much more control over their savings from now on. Osbourne has taken… continue reading »

Budget 2014 Summary

Sandy King
Uncategorized

The personal allowance will be raised from £10,000 to £10,500. This is the amount you can take as an annual income before you get taxed. The 40% income tax threshold will rise from £41,450 to £41,865 on April 6th 2014 and jump another 1% to £42,285 in 2015. 25% lump sum remains in tact, but… continue reading »