Student loans, property and pensions

Student loans, property and pensions

Student loan repayments (SLR) are normally deducted under PAYE from employment income so many people incorrectly assume that SLR are not due on other ‘unearned income’ such as rent or pensions. SLR will in fact be payable where the unearned income exceeds...
Pension allowances increased

Pension allowances increased

The Chancellor announced the relaxation of three different pension allowances to encourage older taxpayers to remain an active part of the workforce or to return to employment if they have retired early. The pensions annual allowance provides a cap on the total...
Pension savings lifetime cap removed

Pension savings lifetime cap removed

The pensions lifetime allowance effectively caps the amount that can accumulate in a person’s pension fund and be extracted with favourable tax treatment. This covers all contributions paid in and any organic growth in the fund. Where the lifetime allowance...