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....He added that the Winter Fuel Payment, a universal benefit of between £100 and £300 tax-free to help pay heating bills, may need to be means-tested in the future. "There are those of us who wouldn't be pushed into cold winters if we didn't have a winter fuel allowance and there are people for whom the winter fuel allowance is the only thing that keeps the heating on. ... [Read full article on BBC ]
Friday 24th of March 2017 08:39:05 PM
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....”. The TUC is campaigning for the government to increase statutory maternity pay and maternity allowance, which is for the lowest-paid women, to the level of the minimum wage. ... [Read full article on Guardian ]
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. You only have until 5 April to take advantage of your £15,240 Isa allowance. ... [Read full article on Guardian ]
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....Investors are racing to pay £2. 5billion into stocks and shares Isas to use up this year’s £15,240 allowance before the tax year ends, plus another £1billion in private pensions, according to Hargreaves Lansdown. ... [Read full article on Daily Express ]
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Latest Finance News related to Allowance

Older savers taking big market risks to trump inflation image
Source : Daily Express [Read Article] Wednesday 29th of March 2017 08:25:00 AM
....Investors are racing to pay £2. 5billion into stocks and shares Isas to use up this year’s £15,240 allowance before the tax year ends, plus another £1billion in private pensions, according to Hargreaves Lansdown. ...
Pensions mistakes of the past must be avoided, says John Cridland image
....He added that the Winter Fuel Payment, a universal benefit of between £100 and £300 tax-free to help pay heating bills, may need to be means-tested in the future. "There are those of us who wouldn't be pushed into cold winters if we didn't have a winter fuel allowance and there are people for whom the winter fuel allowance is the only thing that keeps the heating on. ...
Britain trails most of Europe on maternity pay, says TUC image
Source : Guardian [Read Article] Friday 24th of March 2017 12:01:18 AM
....”. The TUC is campaigning for the government to increase statutory maternity pay and maternity allowance, which is for the lowest-paid women, to the level of the minimum wage. ...
The last call for savers to cash in on tax relief image
Source : Daily Express [Read Article] Wednesday 22nd of March 2017 12:01:00 AM
.... . This tax year you can save up to £40,000 in a pension, a maximum limit known as the annual allowance. ...
Millions of older people may miss new inheritance tax break image
Source : Daily Express [Read Article] Tuesday 21st of March 2017 09:51:00 PM
. From April 6, the new family home allowance will allow homeowners to pass on an additional £100,000 in property value free of inheritance tax (IHT), rising steadily to £175,000 by 2020. ...
Eight tax changes savers should watch out for from April 2017 image
Source : Daily Express [Read Article] Tuesday 21st of March 2017 01:47:00 PM
Five-minute guide to…The resurgence of first-time buyers image
Source : Daily Express [Read Article] Sunday 19th of March 2017 12:01:00 AM
....Amateur landlords now make up just 8 per cent of market activity, Connells says, as the Treasury’s tax onslaught on the sector squeezes profits. Second home buyers have to pay a 3 per cent stamp duty surcharge on purchases, while wear and tear allowances have also been squeezed. ...
New bombshell for self-employed: pay 400% more NICs… or lose state pension image
.... Those with profits below the SPT, but who are eligible for national insurance credits, would continue to build up qualifying years for the state pension. This typically includes people who receive certain benefits (eg, working tax credit or universal credit), parents of children under 12, foster carers and those receiving carer’s allowance. ...
George Osborne facing calls to quit as MP over Evening Standard job image
Source : Guardian [Read Article] Friday 17th of March 2017 12:51:44 PM
.... Again, this creates the possibility of conflicts with the Evening Standard’s business coverage with financial institutions among Osborne’s past and potential future clients. £120,212 allowance as Kissinger fellow at the McCain Institute for a yearThis raises the issue of a conflict between the supposedly objective role of journalist and his activities as a political commentator with a platform to broadcast his personal world view. ...
Philip Green's lavish party for his 65th ends exile from social circuit image
Source : Guardian [Read Article] Thursday 16th of March 2017 08:27:49 PM
....Green’s milestone birthday means he is officially a state pensioner, a status that entitles men of his age a pension of up to £155. 65 a week and other financial aid such as the winter fuel allowance. ...
Over-55s urged to wise up on pension advice image
Source : Daily Express [Read Article] Wednesday 15th of March 2017 10:43:00 PM
....Funds can be accessed at any age and redeemed against the cost of regulated financial advice, where fees range from £75 to £150 an hour. Yet many over-55s are unaware of the allowance and do not realise there is a further £500 tax break for employer-arranged advice, LV= says. ...
Britons pay almost £2billion in extra inheritance tax over next five years image
Source : Daily Express [Read Article] Wednesday 15th of March 2017 12:01:00 AM
....”. Inheritance tax receipts will surge despite the new main residence allowance coming into force on April 6. ...
Britons pay almost £2billion in extra inheritance tax over next five years image
Source : Daily Express [Read Article] Wednesday 15th of March 2017 12:01:00 AM
....”. Inheritance tax receipts will surge despite the new main residence allowance coming into force on April 6. ...
Pension tax warning: Savers in 'last chance' to use extra relief allowance before April 5 image
....People approaching retirement typically try to add as much as possible to nest eggs to benefit from tax relief. The annual contribution allowance has been reduced in recent years and is now capped at between £10,000 and £40,000, dependent upon income tax rates. ...
Budget deficit beyond 2025 warns spending watchdog image
Source : BBC [Read Article] Monday 13th of March 2017 09:26:55 PM
.... Reducing that to zero by the end of that parliament would involve "a lot of challenges" Mr Chote said. "If you were to assume that the Government increased tax allowances and benefits in line with inflation rather than with earnings, then you would get a further fiscal tightening. ...
‘To fly, to starve’ – BA cabin crew deserve better | Letter image
Source : Guardian [Read Article] Monday 13th of March 2017 05:38:47 PM
.... Ultimately, in 2011, the British Airlines Stewards and Stewardesses Association (Bassa) successfully defended itself but the settlement conceded the introduction of a “mixed fleet” on vastly inferior contracts. Fast forward to 2017 and this “mixed fleet”, numbering over 4,000, is now in dispute (Report, 15 February), seeking more than the paltry increase (calculated at 6p an hour on trips) offered by BA on basic pay of £12,192 or £16,000 with allowances. ...
Bogus self-employment exploits workers and scams the taxman | Paul Mason image
.... In response, workers are being forced to operate via “umbrella companies” paying themselves a tiny salary and large dividends, to avoid tax. That building site around the corner, then, embodies the ultra-capitalist dream: there are officially no workers there, only company within company within company, all taking advantage of generous capital allowances, tax-deductible expenses and self-assessment to reduce their tax burden. ...
Best cash ISAs 2017: Top rates offered by little known providers image
Source : Daily Express [Read Article] Monday 13th of March 2017 02:41:00 PM
....co. uk, said: “The ISA allowance is there to use it or lose it, so it’s important to go over any old accounts to see whether they need to be transferred to something better, especially as some ISAs pay little to nothing in interest, going as low as 0. ...
A helping hand with childcare: options to make your child and wallet happy image
.... The family live in Ladywell in south-east London. “With the free 15- hour allowance this cost us about £100 a week for a full-time place from 8am-4pm for five days a week. ...
Isas back in favour after tax allowance hike image
Source : Guardian [Read Article] Saturday 11th of March 2017 07:00:28 AM
. A new tax-free Isa allowance that comes into force next month will allow wealthy couples to put more than £70,000 beyond the reach of HMRC. ...
Budget 2017: tax on dividends will be a raid on 2 million small investors image
....Those affected will typically have to pay several hundred pounds more in tax each year on the dividend income they receive from their shares-based investments – though some with large portfolios could face an annual “hit” of £1,000-plus. However, the change doesn’t take effect until April next year, and experts said many of those affected will be able to minimise their tax bill, or avoid any extra tax completely, by maximising their Isa allowances. ...
The Guardian view on trust in politics: pledges and conventions matter | Editorial image
....There is nothing illicit about this arrangement, but there is something distasteful about the architect of many people’s hardship cashing in when there is still so much pain yet to come. As the Institute for Fiscal Studies noted yesterday in its evaluation of the budget, cuts to employment support allowance and tax credits that take effect this April will be felt more keenly and by more people than the rise in national insurance contributions (NICS) for some self-employed workers – including, as it happens, Mr Osborne – that has become the object of a Tory rebellion. ...
Hammond went where Osborne feared to tread with tax on self-employed image
Source : Guardian [Read Article] Thursday 9th of March 2017 04:41:03 PM
....But Osborne knew that however rational, raising self-employed national insurance could be too easily caricatured as a raid on the bank account of “white van man” – a tax on entrepreneurship. Treasury advisers vainly argued after Philip Hammond’s speech on Wednesday that the measure should be considered alongside the abolition of Class 2 national insurance contributions (NICs), announced by Osborne in his final budget last spring; and the increase in the tax-free personal allowance, due to come into effect next year. ...
Savers urged to use THIS simple trick to beat dividend tax changes image
Source : Daily Express [Read Article] Thursday 9th of March 2017 04:32:00 PM
....One of the most effective ways and easiest ways of protecting dividend income is to use your stocks and shares ISA. Shares held within the tax-free wrapper are protected from dividend tax, the allowance stands at and rises to £20,000 from April 5. ...
The shameless Tories have betrayed the self-employed – and themselves | John Harris image
....Note also that the howls of dismay coming about the government’s treatment of small businesses are not just about the move on national insurance. As well as hitting rich businesspeople, changes in the budget on tax allowances for company owners will also affect 1. ...
'This is grossly unfair': self-employed readers react to NICs increase image
Source : Guardian [Read Article] Thursday 9th of March 2017 02:21:03 PM
.... How we can be considered permanent is beyond me as it is not uncommon for me to work at two NHS hospitals and a private site in a single week. Traveling and subsistence allowances have been disallowed adding further costs, which means it is not economically viable to continue working as a locum. ...
Rents are 'out of step' with incomes, housing body warns image
Source : Guardian [Read Article] Thursday 9th of March 2017 12:01:21 AM
....From 1 April, single people aged 18 to 21 will not be entitled to the housing element of universal credit unless they fall into certain categories. Previous changes have already capped the amount of housing benefit that can be claimed through the local housing allowance and limited the sums for under-35s. ...
Hammond seems to be expecting business rates storm to just blow over image
Source : Guardian [Read Article] Wednesday 8th of March 2017 07:42:51 PM
.... But he sounded like a politician who has calculated that the twice-a-decade storm over business rates will blow over eventually and the “medium term” can mean whatever the government wants it to. If the tax raid on self-employed people seemed very un-Conservative, so did the cut in the tax-free allowance on dividend income enjoyed by wealthy investors in shares. ...
Budget 2017: Tax-free dividend allowance slashed image
Source : BBC [Read Article] Wednesday 8th of March 2017 06:04:27 PM
.... A higher rate tax payer will pay an extra £975. The dividend allowance of £5,000 was announced by the previous chancellor, George Osborne, in 2015. ...
Self-employed hit by national insurance hike in budget image
Source : Guardian [Read Article] Wednesday 8th of March 2017 02:24:49 PM
....“The most significant remaining area of difference is in relation to parental benefits, and I can announce today that we will consult in the summer on options to address the disparities in this area as the FSB [Federation of Small Businesses] and others have proposed”. Hammond also announced that he was addressing similar benefits enjoyed by people who are directors and shareholders, by cutting the tax-free allowance on the dividends they take out of their companies from £5,000 to £2,000 from April next year. ...
Budget 2017: What it means for you image
Source : BBC [Read Article] Wednesday 8th of March 2017 02:09:53 PM
....Director shareholders will see a tax break reduced on the dividends they receive. The tax-free dividend allowance - which was only introduced last year - will be reduced from £5,000 to £2,000 from April 2018. ...
Budget 2017: Blow for pensioners as tax-free dividend allowance SLASHED image
Source : Daily Express [Read Article] Wednesday 8th of March 2017 01:44:00 PM
Budget 2017: Savers BOOST with new top paying NS&I bond...paying 2.2% on savings image
Source : Daily Express [Read Article] Wednesday 8th of March 2017 01:33:00 PM
....”. The allowance is set to fall from £5,000 to £2,000 next year, which experts said it could be a blow to people relying on the income in retirement. ...
Key points of the budget 2017 – at a glance image
Source : Guardian [Read Article] Wednesday 8th of March 2017 12:41:30 PM
....As expected, £11,500 for basic rate taxpayers. RM: This is a continuation of the Conservative-Liberal Democrat coalition government’s trend of raising the personal allowance to reduce income tax paid for all but the very highest earners. ...
Isa savers frozen out as rates hit a new low image
Source : Daily Express [Read Article] Wednesday 8th of March 2017 08:13:00 AM
.... . Somebody who invested this year’s full £15,240 allowance in the average cash Isa will earn a meagre £125 in interest. ...
Budget will hold no big surprises on spending or tax, chancellor says image
Source : Guardian [Read Article] Wednesday 8th of March 2017 06:33:22 AM
.... Treasury sources indicate that the chancellor will adjust the complicated business-rate capping regime to make life easier for the worst-affected, but will refuse calls for a complete rethink. Income taxThe government wants to raise the income tax personal allowance to £12,500 and the higher-rate threshold to £50,000 by the end of this parliament. ...
Budget 2017: What it means for parents - tax-free childcare to start next month image
Source : Daily Express [Read Article] Wednesday 8th of March 2017 12:00:00 AM
....To qualify, parents will have to work 16 or more hours a week, and each earn at least £115 a week. The allowance will pay 20 per cent of childcare costs so a family would need to spend £10,000 a year to get the full amount of credit. ...
Taxes for self-employed likely to rise in Hammond's budget image
Source : Guardian [Read Article] Tuesday 7th of March 2017 08:05:27 PM
....Simon McVicker, director of policy at IPSE, the trade body for self-employed workers, said: “If the increase goes ahead, the government should commit to righting some of the unfairness in the tax system for the self-employed. Currently, many mothers who work for themselves can only claim a small maternity allowance, while employees are granted enhanced maternity pay for the first six weeks of leave. ...
Budget 2017: Philip Hammond urged to change inheritance tax rules image
Source : Daily Express [Read Article] Tuesday 7th of March 2017 02:28:00 PM
....But the threshold has been at this level since 1981 - if it had increased with inflation it would now be at £10,000. Now experts say Mr Hammond should use the 2017 Budget to make the allowance more generous. ...
Philip Hammond urged to pause cut in benefits for widowed parents image
Source : Guardian [Read Article] Tuesday 7th of March 2017 09:00:38 AM
....The issue has been raised in parliament by Labour’s Stella Creasy who told colleagues about a constituent called Ros, whose husband died in 2014 and who had given up work earlier to support him during his illness. She said the mother of two had found the allowance to be a lifeline, but would have lost out on more than £100,000 during the lifetime of her children as a result of the changes. ...
Rethink rates now or face retail disaster, shops tell chancellor image
Source : Guardian [Read Article] Tuesday 7th of March 2017 07:01:35 AM
....2% lower in the three months to February than in the same period a year earlier and 0. 4% lower once allowance had been made for the expansion of retailers’ floorspace over the past year. ...
Goodbye Spring Budget image
Source : BBC [Read Article] Tuesday 7th of March 2017 12:11:17 AM
....Mr Roy-Chowdhury points out that moving the government announcements matters to the general public as well. "If there is a range of changes twice a year to things like national insurance, personal allowances, pensions tax relief or savings allowances, it is harder for ordinary taxpayers to keep up," he says. ...
Budget 2017: Hammond to tell us the Brexit vote could have been worse image
....Part of the Treasury’s response to that report was to highlight how it was “cutting taxes for millions of working people”. There have indeed been successive rises over recent years to the tax-free personal allowance – the amount someone can earn without having to pay income tax. ...
Low key Budget?  image
Source : BBC [Read Article] Saturday 4th of March 2017 01:17:34 AM
....A number will lead to a notable change in the finances of those of working age - particularly a shift in the income tax threshold and the benefit freeze - while others target particular groups of people such as landlords. The amount people can earn before they are subject to income tax, known as the personal allowance, is currently set at £11,000 and it has already been announced that it will go up to £11,500 in April. ...
ISAs 2017: Can I move existing shares into an ISA? What happens to my ISA if I go abroad? image
.... . “The process could generate a capital gain (or loss), however if your total gains are within the capital gains tax allowance of £11,100 there will be no tax to pay. ...
ISAs 2017: Can I move existing shares into an ISA? What happens to my ISA if I go abroad? image
.... This is commonly known as ‘Bed and ISA’. If you already have an ISA do you get two allowances each year?. ...
Universal credit cuts hit families with children hardest, study finds image
Source : Guardian [Read Article] Wednesday 1st of March 2017 10:00:46 AM
....Ministers predicted in 2011 that universal credit would take 900,000 individuals out of poverty, including 350,000 children, an assessment the study says the government now refuses to revisit in light of the changes. The chief executive of CPAG, Alison Garnham, called on ministers to use next week’s budget to make universal credit “fit for families” by reversing cuts to work allowances announced by the former chancellor George Osborne in 2015. ...
Ford forecasts 1,160 Bridgend job cuts image
Source : BBC [Read Article] Wednesday 1st of March 2017 08:37:23 AM
....Overtime levels at Bridgend are more than double Dagenham's rates, which adds 6% to the cost of the engines produced. It attributes this to absence, non-performance and work practices including paying staff allowances they are not entitled to and regular job rotation. ...
Tory £1bn inheritance tax cut 'will worsen north-south divide' image
Source : Guardian [Read Article] Tuesday 28th of February 2017 07:20:48 PM
.... “That’s why, in line with the manifesto commitment, we’re reforming the rules to bring down the number of families paying inheritance tax from next year, with nearly 20,000 estates taken out of paying inheritance tax from April 2020 alone. “Under the new system families will have a new £175,000 inheritance tax allowance for their home on top of the existing £325,000 threshold. ...
Savers warned: Pension tax relief could be SLICED in March Budget  image
Source : Daily Express [Read Article] Tuesday 28th of February 2017 03:36:00 PM
....One option that could save the Government billions of pounds a year is to implement a flat-rate of relief for taxpayers at around 33 per cent - impacting middle earners hardest. Alternatively, Mr Hammond could consider trimming annual or lifetime allowance for savings. ...
Landline charges for 2m customers to be cut as telecoms watchdog steps in image
Source : Guardian [Read Article] Tuesday 28th of February 2017 09:12:38 AM
....”. The phone service is aimed at customers on certain state benefits such as jobseeker’s allowance and pensions credits. ...
Junior ISA 2017: Can I open an ISA for my children? ISA advice and tips image
Source : Daily Express [Read Article] Sunday 26th of February 2017 01:33:00 PM
. Parents and guardians can open Junior ISA accounts for their children and invest on their behalf to make the most of their annual allowance. ...
If EU workers go, will robots step in to pick and pack Britain’s dinners? image
Source : Guardian [Read Article] Saturday 25th of February 2017 04:00:05 PM
....Technology requires heavy upfront investment that some farmers cannot afford. Government support in terms of grants, tax allowances or cheap loans may be required. ...
BA cabin crew to stage a new seven-day strike over pay image
Source : BBC [Read Article] Friday 24th of February 2017 05:30:11 PM
.... . The union estimated that, on average, mixed fleet cabin crew earned £16,000 a year including allowances. ...
The Bank of England is in denial. Brexit shows people don't act rationally | Robert Skidelsky image
....” Proposing an alternative approach to economic modelling that they call “imperfect knowledge economics,” they urge their colleagues to refrain from offering “sharp predictions” and argue that policymakers should rely on “guidance ranges,” based on historical benchmarks, to counter “excessive” swings in asset prices. The Russian mathematician Vladimir Masch has produced an ingenious scheme of “risk-constrained optimisation,” which makes explicit allowance for the existence of a “zone of uncertainty”. ...
Barclays' profits almost triple but chairman says many challenges await image
Source : Guardian [Read Article] Thursday 23rd of February 2017 09:10:57 AM
....Changes are also being proposed to the way Staley and the finance director, Tushar Morzaria, are paid. They will no longer receive a “salary” but instead receive “fixed pay”, which incorporates their salary and the role-based allowances that were introduced by major banks following the EU pay restrictions that capped bonuses. ...
Farmers deliver stark warning over access to EU seasonal workers image
Source : Guardian [Read Article] Tuesday 21st of February 2017 06:37:51 PM
.... In its Feeding the Future report (pdf) published on Tuesday, the NFU put investment in labour-saving technology at the top of its agenda and said farmers were increasingly interested in the likes of mechanical harvesting of field vegetables, driverless tractors and robotics. But Raymond said improving productivity with technology required heavy up-front costs and government needed to support that investment with grants, tax allowances or cheap loans. ...
UK borrowing and growth better than expected for budget, says report image
Source : Guardian [Read Article] Monday 20th of February 2017 07:00:31 AM
....”. EY said it expected a low-key budget next month, although there could be announcements on further steps to raise the tax-free personal allowance to £12,500, a temporary cut in fuel duty, and action on social care and the NHS. ...
Savers need a balancing act to beat inflation image
Source : Guardian [Read Article] Monday 20th of February 2017 07:00:31 AM
.... They are potentially a bit of fun, but unless you get extremely lucky the return you’ll get can probably be beaten elsewhere. “They are possibly more worthy of consideration for higher rate taxpayers who have already used up their personal savings and Isa allowances,” he says. ...
Pension warning: Retirees set for SHOCK tax bill after new rules are introduced THIS April image
.... Savers who have taken their 25 per cent tax-free lump sum and has not drawn taxable income can still save up to £40,000 a year. Pensions provider AJ Bell is calling on the Government to keep the current allowance. ...
A new Isa is offering tax-free returns of 12% – so what’s the catch? image
Source : Guardian [Read Article] Saturday 18th of February 2017 07:00:33 AM
.... Late last year the rules were extended so that these new products can also include debt-based crowdfunding, thereby allowing investors to lend money to things such as renewable energy projects and enjoy tax-free returns. During the current tax year you can save up to £15,240 in one type of Isa or split the allowance across two or all three types. ...
ISA allowance: If I don't use this year's allowance, can I carry it over to next year? image
Source : Daily Express [Read Article] Wednesday 15th of February 2017 04:42:00 PM
. Savers cannot carry the current tax year’s ISA annual allowance over to the next tax year, which begins on April 6 2017. ...
Here's how being married still has its financial benefits image
Source : Daily Express [Read Article] Wednesday 15th of February 2017 08:07:00 AM
....Tax breaks. The Marriage Allowance saves married couples up to £220 this tax year, by letting the higher earner transfer £1,100 of their personal tax allowance to the lower earner. ...
GWR’s compensation scheme is all delay and no repay image
Source : Guardian [Read Article] Monday 13th of February 2017 07:00:07 AM
.... Calls to an 0345 number are charged the same as a normal landline but, unlike 0845 numbers, they are also included in any mobile phone call bundle a customer may have. So if a customer’s monthly/weekly allowance of free minutes has been used up (as in your case) those calls become chargeable and the charge levied depends on the provider. ...
BA cabin crew call four-day strike over pay image
Source : Guardian [Read Article] Friday 10th of February 2017 05:04:46 PM
....”. Basic pay in the mixed fleet, which all new recruits to BA join, starts at around £12,000, although the airline says crew earn a minimum of £21,000 after allowances and bonuses. ...
ISAs 2017: How much can I invest in an ISA next tax year? image
Source : Daily Express [Read Article] Thursday 9th of February 2017 05:09:00 PM
. The ISA limit for the current tax year is £15,240 but you will no longer be able to use this allowance after April 5 2017. ...

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