Tips to stay on top of financial planning next year
By Kirsten Hastings, 22 Dec 15
This year has brought about a significant number of changes that impacted the personal finance landscape. There have already been a number of announcements which will affect people’s financial plans, says Andy Cumming, head of advice at Close Brothers Asset Management, who outlines four key things to watch out for in 2016.
Every £2 over the annual allowance counts:
The tapered reduction in the annual allowance for those earning over £150,000 will naturally be more front of mind for higher-net worth individuals.
But it’s important for those not quite at this threshold not to assume it won’t affect them at all, and savers should be wary of the impact that something like a bonus could have in bringing them up to this level.
For every £2 earned over £150,000, the level of tax-free contributions will fall at a rate of £1.
Tags: Close Brothers | Lifetime Allowance
