The end of the tax year is fast approaching and you probably need an action plan to maximise valuable tax breaks and allowances before they disappear at midnight on 5th April.
Several valuable options are available including ISA and Pension planning.
Contact us if you would like to discuss your valuable personal tax allowances, before April 5th.
This Christmas we have chosen to support Myton Hospice charity as opposed to sending Christmas cards to our clients.
Myton Hospices need to raise £10.5 million each year to provide services free of charge and we all know how much costs have risen over the last year. Myton greatly appreciate every penny received and a donation will help ensure that they can keep important services free of charge for patients and their loved ones at a very difficult and challenging time.
If you would like to know more about the the great work that Myton Hospice do and make a donation you can visit them via this link:
https://www.mytonhospice.org/how-you-can-support-us-2/donate/#donation
The Myton Hospices. - UK Registered Charity No. 516287
Merry Christmas from us all at Johnson Gibbs
Johnson Gibbs will be closed for business from Friday 22nd of December until Thursday 4th of January.
If you have an urgent enquiry during this period you can call us on 01926 494457 or alternatively send an email to hello@johnsongibbs.co.uk
We will do our very best to assist you during the festive holiday.
Merry Christmas and our best wishes for the New Year.
Johnson Gibbs
The big news from the Chancellor's budget speech is that the the lifetime limit on tax-free pensions savings will be abolished.
In addition, the annual tax-free pension allowance will rise from £40,000 to £60,000.
Both allowances have been cut since 2010, raising about £8bn of extra taxes for the government according to the Institute for Fiscal Studies (IFS). We feel that these changes are a positive move for pension planning.
In November, the government confirmed that the state pension would go up by 10.1% - in line with September's Consumer Prices Index (CPI) measure of inflation.
For people who have reached the qualifying age and have paid enough national insurance contributions, from April 2023 payments will be:
When will you be eligible for a state pension -
Men and women born between 6 October, 1954 and 5 April, 1960 start receiving theirs at the age of 66.
However, for people born after this date, the state pension age is gradually increasing to 67 by 2028 and 68 by 2046.
At Johnson Gibbs we are doing our very best to minimise the risks of potentially passing a virus on to our clients, some of which are elderly and some have underlying health conditions. We are also doing our very best to keep our staff well and able to provide you with the advice and service that we continue to deliver with consideration and care.
We are all very aware of staying healthy and not passing on Covid or various strains of the flu virus that are prevalent at this time. For these reasons we operate an appointment only system of meetings and the vast majority are being held via telephone, email and online.
Our office remains closed to visitors without a pre arranged appointment as a precaution.
Our friendly Client Services Team are available to answer your calls, emails and respond to your needs.
Call us on 01926 494457 or email your consultant directly. If you are contacting us for the first time you can call us or alternatively email hello@johnsongibbs.co.uk
We look forward to helping you.
This year we decided not to send Christmas cards to our clients and donate the money to The Myton Hospices.
We hope that you agree that the money will benefit others in enhancing life when cure is no longer an option.
Every year The Myton Hospices need to raise £9.1 million of the £11.6 million needed to support the people and to continue to provide the best care possible for patients and their families.
Last year, despite the challenges of Covid-19, Myton Hospices still supported 1,500 people and their families, via the patient & family support services, and in the community through Myton at Home.
More information is available via this link to the Myton Hospices Website: https://www.mytonhospice.org/
The Myton Hospices. - UK Registered Charity No. 516287
Merry Christmas from us all at Johnson Gibbs
