All posts by Marian

Marian worked in pensions/finance for 12 years including gaining the Associateship of the Pensions Management Institute. She has a keen interest in finance, taxation and property and spends time reasearching and writing articles on these topics.

Tax Relief on Pension Contributions

Happy RetirementThere have been many many changes to how pension schemes are run and the tax relief on not only pension schemes but also pension scheme contributions in the last decade and indeed further back. Pensions are such a confusing thing to so many people that they take one look at the rules and regulations for pensions and decide they are too complicated and put them to one side. Continue reading Tax Relief on Pension Contributions

Over 65 Allowance Reduces With Income

If you are over 65 and expecting to receive the higher rate of personal allowance due to your age, then you need to be aware that the increased personal allowance for those aged 65 and over (and indeed the even higher personal allowance for those aged 75 and over) can be reduced to the level of the basic personal allowance if your income is higher than a certain level. For the tax year 2011-12 this amount is £24,000 and for the year 2012-13 the amount is £25,400. Continue reading Over 65 Allowance Reduces With Income

What Is The Personal Allowance for 2012-13?

The personal allowance, i.e the amount of tax free income that you can earn, for the tax year 2012-13 is £8,105 for a person under the age of 65. This is subject to your earnings not exceeding £100,000 and has been increased from the previous year when the rate was £7,475. The aim is the have a personal allowance of £10,000 for everyone and this is being introduced gradually. Continue reading What Is The Personal Allowance for 2012-13?