Archives

September – a month when it was difficult to find any good news, with the headlines seemingly screaming “Crisis” and “Rescue package” on alternate days. In the UK, unemployment reached 2.5m and inflation rose: the US reversed the previous month’s positive news about jobs, stock markets fell around the world and UBS were hit by the losses of a rogue trader.

On reaching State Pension age you no longer pay National Insurance contributions, but you don't automatically stop paying Income Tax. Taxable income includes that from a State Pension and if this is more than the tax-free allowance, you will still be obliged to pay tax.

Retirement has often been described as “the longest holiday of your life.” But attractive as that sounds, can you afford to pay for the holiday?

Junior ISAs (Individual Savings Accounts) will be available from 1 November 2011, following the end of Child Trust Fund (CTF) eligibility from January 2011. The Treasury says that Junior ISAs will ensure that all parents have a clear and simple way to save for their child’s future. They will initially allow parents, family members and friends to make tax-efficient savings of up to £3,600 annually per child.