There are strict rules governing the circumstances in which a company may pay a dividend to its shareholders, some of which could affect directors’ income. Companies must have sufficient distributable reserves to pay the dividend at the time it is paid. Broadly, distributable reserves are accumulated profits from prior years that haven’t been paid out…

With thousands of workers on lower incomes as a result of the coronavirus pandemic, it is not surprising that many individuals need to dip into savings to support themselves. Unfortunately, those with money saved in a Lifetime ISA (LISA) face a penalty for doing so. To help these savers, the Government has announced that the…

HM Revenue & Customs (HMRC) will start contacting individuals who may be eligible for the Self-Employment Income Support Scheme (SEISS). The tax authority has said that from 4 May 2020 onwards it will begin reaching out to those who can benefit from the scheme, which will provide a taxable grant worth 80 per cent of…

Data from the latest Moneyfacts UK Personal Pension Trends Treasury report has revealed that that the average pension fund saw its value fall by 15.2 per cent during the first three months of this year. This makes this period one the worst on record, even surpassing the losses seen during the financial crisis of 2008. During…

A group of MPs have called on the Government to amend the current rules surrounding inheritance tax, including suggestions that the current 40 per cent rate of tax should be cut to just 10 per cent. The All-Party Parliamentary Group on Inheritance Tax and Intergenerational Fairness (APPG) has said that the current system was “complex,…

Are you approaching retirement? Are you unsure if your pension fund and other savings will see you and your family comfortably through retirement? Or are you unsure if you can afford to invest in a big project without it impacting negatively on your lifestyle? You’re not alone. Many individuals have come to me looking for…