Q. I am thinking of buying a property to rent out but have been reading that the tax status is going to change soon. Can you explain this please? A. You are correct; there are changes afoot with tax relief on buy to let properties. Under the changes, landlords will be unable to deduct the… Read more »
Q. I have had two investment Individual Savings Accounts (ISAs) for many years. When I was looking at the most recent statements, I noticed that one has “units” and the other has “shares”. What is the difference? A. This is a straightforward question, and the short answer could be that there may be very little practical difference…. Read more »
Q. I am a member of the University Superannuation scheme, which is changing next April. It will cost me more but the potential benefits are being reduced. I understand this is because the rising cost of pensions has meant there is a large deficit in the scheme. Is it still worth being a member or should… Read more »
Q. I have just been awarded a pay increase which takes my salary to £54,000. We have 2 children and my wife gets child benefit for them, which I understand that we will now lose. Is there anything we can do to retain this benefit? A. The High Income Child Benefit Charge was introduced on 7th January… Read more »
Q. I have £12,000 to invest before the end of the tax year. I am 53 years old, and a higher rate taxpayer. Would you suggest an ISA or a Personal Pension contribution? A. The short answer is “Yes”. Both ISAs and Personal Pensions are tax-efficient ways to invest, and with the changes in April meaning that… Read more »
