The HICBC may cause national insurance problems for stay at home parents.

An issue concerning how the high-income child benefit charge (HICBC) can potentially affect stay-at-home parents has emerged.  The HICBC claws back child benefit payments where either parent has income over £50,000 a year and removes the benefit entirely if either parent has income over £60,000. For couples where one person earns over £60,000 whilst the…

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Tax free savings is celebrating its twentieth anniversary in 2019

The arrival of the new tax year on 6 April means it is time to consider your Individual Savings Accounts (ISA) investments, which will celebrate their 20thbirthday in April. Over the last 20 years, the maximum annual contribution has risen from £7,000 per tax year to £20,000 for 2019/20. If you managed to set aside the maximum…

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VCTs have been growing in popularity in recent years, as the graph shows. Nearly £750 million was invested in VCTs in 2017/18, the highest figure since 2005/06, when the rate of income tax relief was temporarily boosted to 40% (against the current 30%). There were two main reasons for the surge in popularity in the…

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