Regulation impact

  • Tax on Savings and Investments

    Although there are three main taxes that you need to consider – Income Tax, Capital Gains Tax and Inheritance Tax – there are also other areas of income tax that need to be taken into account:

    • Pensions Tax;
    • Savings Tax; and
    • Dividends Tax.

    Read this chapter to find out more.

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  • Personal taxes

    This Section gives an overview of personal taxation (the taxes you pay on your income); Capital Gains; and what your estate may pay on death (Inheritance Tax).

    Tax legislation is very complicated. Therefore, before making any decisions, you should talk to an accountant or financial adviser.

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  • Cost of care provision

    We make no apologies; this section could be depressing.

    Until they experience the care system, many people believe – incorrectly – that the state will look after them if they need care. This is not the case. If you suffer from cancer you will be looked after by the National Health Service (NHS), but if you suffer from dementia you will have to pay for your care. The NHS treats the sick – if we are not sick, we are expected to look after ourselves. If you are expected to pay – what will it cost?

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  • State pension

    State Pensions are the highest item of Government spending, accounting for 20% of total expenditure. This section assumes you reach State Penson Age

    This guide is written on the basis that you reach your State Pension age on or after 6th April 2016. It will point out the main differences if you reached State Pension Age before that date, but you will need to check with the Pensions Service of the Department of Work and Pensions (DWP) to understand your true position.

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  • State benefits

    The UK benefits system is very complicated. There are a number of different state benefits available. Some of these benefits are being combined as part of the roll out of Universal Credit to those who have not yet reached State Pension Age. Pension Guarantee Credit is payable from Pension Credit Age, which is currently earlier than the State Pension Age for men.

    This section will help you understand what you are entitled to.

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