Q. I read an article in a national newspaper recently which left me with the impression they were suggesting you shouldn’t necessarily take your pension benefits from your personal pensions when you retire. Surely this must be some sort of flawed logic. Can you explain please? A. It may well be that the article was referring… Read more »
Q. I have an investment bond which has made a profit of £60,000 over the 15 years it has been in force. How will I be taxed on this? A. There is one piece of information missing from your question, which is your income. However, I will try to answer it anyway. An investment bond… Read more »
Q. I understand this new “Lifetime ISA” will give me tax relief like a pension, but I can withdraw funds early. Does this mean it is better than the pension I am being Auto-enrolled into by my employer? A. In his budget George Osborne unveiled the Lifetime ISA which will be available from April 2017…. Read more »
Q. My mother passed away recently and one of the investments we discovered she had taken out was called a “loan trust”? Can you explain what this is? A. A trust is a legal mechanism for looking after assets or money for one or more beneficiaries. These are often used as a way to give… Read more »
Q. A friend of mine said that with the tax changes coming into force in April, there is no longer any point in investing in ISAs (Individual Savings Accounts). Is this true? A. From April, individuals will have a “Personal Savings Allowance” of £1,000 if they are a basic rate taxpayer, or £500 if they… Read more »
