WINTER/SPRING 2001 VOLUME 1, ISSUE 4 |
Inside This Issue |
1. |
Thing to do before 5 April 2001
Stakeholder Pensions - Employers
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2. |
Pre-Budget Report
Information Technology (IT) Matters
Inheritance Tax
Company Cars
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3. |
Dump Private Fuel ?
Computer Assisted Failure
National Insurance Penalty
Personal Pension Changes
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4. |
National Insurance On Benefits
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THINGS TO DO BEFORE 5 APRIL 2001
- Consider the timing of disposals for Capital Gains Tax.
- Make use of Capital Gains Tax exemptions.
- Pay your pension contributions and consider extra single premium payments.
- Utilise spouse's and minor's personal allowances, lower and basic rate bands.
- Consider making use of Inheritance Tax reliefs and exemptions.
- Consider triggering company dividends or bonuses.
- Review investment strategies/return.
- Consider ISA investment and TESSA maturity options.
- Consider impact of stakeholder pension legislation.
Stakeholder Pensions - Employers
A recent development has been an adjustment to the employee limit such that only employers with more than 5 employees are obliged to identify and offer a stakeholder pension scheme from October 2001. It should be noted that the directors of a company count as employees as do spouses who are paid by an unincorporated business.
It should be emphasised that employers are not obliged to contribute to the schemes themselves (or at least not yet!) but they must identify and offer such a scheme or risk a substantial fine.
We can introduce you to a selected Independent Financial Advisor and you may also wish to check out www.pensionsbusiness.com which, is a new service offered by a panel of insurance companies to assist employers with the stakeholder pension regime.
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