Following the budget March 15, 2023, The Chancellor has made the following changes to the pension charge: · Increase the annual allowance exemption from £40,000 to £60,000; · Increase the minimum annual allowance exemption limit from £4,000 to £10,000; · Increase the income level for the tapered annual allowance to apply from £240,000 to £260,000; · Ensure that nobody will face a lifetime allowance charge from April …
Tax and Finance Update – January 2023
New Pension Record Check service, Getting the most out of Xero, Update on the £156k GP naming and shaming declaration, Murky GPs(?) and more…
Finance and Tax Update – September 2022
Fixing the Annual Allowance CPI Disconnect for 2022/23, Tax reductions in the Mini-Budget, Stamp Duty Relaxations, from Ramsay Brown – Client Service Award Winning Accountants. For an example of our New Pensions Information Report click here and contact us at info@ramsaybrown.com to take this up.
Tax and Finance Update – August 2022
Profit Warning for GPs, Tax investigations on the rise, are you claiming your tax expenses properly, help with your AGM and what is your PCN doing? For an example of our New Pensions Information Report click here and contact us at info@ramsaybrown.com to take this up. My name is Lauren Slavin. I’m a partner at Ramsey Brown accountants. …
Tax and Finance Update – July 2022
In this update, Laurence Slavin, discusses the July 2022 Review Body award, and why a 4.5% pay award without extra funding is NOT recommended! Also, Treasury response to request for help with 22/23 Annual Allowance charges, new residence online checker, and more! My name is Lauren Slavin. I’m a partner at Ramsey Brown LLP Chartered …
An Exciting New Bespoke Pensions Information Report Service from Ramsay Brown!
Our new report will:– explain your likely pension benefits– explain your options for maximising the lump sum– consider the impact of taking your pension early– calculate the effect of any annual allowance and lifetime allowance charges,– show the impact of the McCloud Judgementand will help identify any errors in your pension record (PCSE have identified …
An Exciting New Bespoke Pensions Information Report Service from Ramsay Brown!Read More
New Pensions Review Service, Time to Act for Basis Period Reform, How NIC Changes Can Help You, Xero Recognition and More
This broadcast covers a new exciting pensions review report we are offering, plan now for basis period reform, how the Spring Statement can help you, Xero recognition and more!
Early Closure Date for 2019/20 AA Compensation, Use of Companies, IR35 News, Implementing McCloud, Basis Period Reform + More…
This broadcast provides an update on the key issues around NHS Pensions, clinicians using companies, basis period reform, and more
Lifetime and Annual Allowance for Pensions
This broadcast explains how the Lifetime and Annual Allowance Charges are paid and how they impact on your final pension and lump sum. For access to the earlier Total Rewards Broadcast click here. For access to details of the Compensation Scheme for Annual Allowance charges in 2019/20 click here.
Changes in Pension Tax
The Chancellor has announced major reforms in the pension tax regime which may help GPs with significant tax bills. Although these changes will apply from the tax year 2020/21, the government has already committed to contributing back any additional pension charge paid by Scheme Pays Election for 2019/20. Therefore, GPs who have already opted out …
