The new share ownership arrangements enable employers to give employees up to £3,000 of shares each year free of tax and National Insurance. In addition, employees will be able to buy partnership shares out of their pre-tax salary up to £1,500 a year free of tax and National Insurance and employers can give employees two share for every one partnership share they buy. When the employees subsequently dispose of the shares they will be looking for a tax effecient home for the proceeds and could, of course, consider investment of part of the proceeds into an ISA or even a Stakeholder pension.
Winston Churchill once rejected a pudding on the grounds that it had no theme. I know it's a cliché but I have been listening to the Chancellor and the leader of the Opposition and it is infectious.I am not quite clear whether this Budget has an overall theme. Lots of bits and pieces, many of […]
FSA chairman Howard Davies says Europe should be aware of “hasty and bungled” reform of financial regulation.Speaking in Brussells he said Europe's top priority should be overhauling the legislative framework for the financial services industry.He said that until there is a common European legal system implementation and enforcement should take place at member state level.Davies […]
In the pre-Budget report on 9 November 1999 the Chancellor announced a package of tax incentives aimed at modernising and simplifying the tax system to boost giving to charity. The Getting Britain Giving package included: abolishing the £250 minimum limit for Gift Aid donations; allowing donors to join the Gift Aid scheme by telephone or […]
Life assurance contributions under the new DC tax regime are to be restricted to 10% of the pension contributions paid under that tax regime. Clients with personal pension contracts set up prior to 6 April 2001 will, however, retain the existing 5% of net relevant earnings limit. For most individuals the change to the life […]
By Simon Fletcher
As a chief executive officer of a business in the financial services sector, I have been dealing with the introduction of auto-enrolment for our clients for some time, but I can also speak from an employer’s point of view, having to go through the process ourselves.
News and expert analysis straight to your inboxSign up
Latest from Money Marketing
The Government should make it easier for advisers to sell products that blend income drawdown with insurance to meet future care costs, according to former pensions minister Steve Webb. A paper published today by Royal London calls on the Government to introduce policy changes which allow new products to be created that pay for long-term […]
Independent governance committees at big-name pension providers are failing to safeguard the interests of savers and the FCA must take action, fresh research finds. In 2015, the FCA required contract-based pension providers to appoint IGCs to act as champions of savers’ interests. IGCs are required to publish annual reports to increase transparency and encourage comparison […]
The FCA is reviewing the content of its pension transfer specialist examination standard in light of recent issues with pension transfer advice, Money Marketing understands. The regulator does not offer qualifications but it does have a role in setting standards for exams and publishes “appropriate examination standards” guidance. Money Marketing understands a working group, mostly […]