http://www.minervasipp.co.uk Fri, 6 Apr 2012 10:05:40 GMT 30 Our offices in Carlisle and Darlington will remain open until 5 pm today to accept last minute applications and contributions for the 2011/12 tax year. Anyone considering making payment directly to us... (click title above to read full article) http://www.minervasipp.co.uk/news/end-of-tax-year Thu, 5 Apr 2012 11:48:32 GMT 29 At first glance it looks as though the Chancellor has left pension tax reliefs unchanged in today's budget, which is a welcome outcome. Our offices in Carlisle and Darlington will be open until 5 pm on Thursday 5th April 2012 in order to accept last minute applications and pension contributions for the 2011/12 tax year. http://www.minervasipp.co.uk/news/budget--initial-reaction Wed, 21 Mar 2012 14:37:56 GMT 28 Speculation is mounting that the coming budget may include measures to restrict pensions tax relief for higher earners - specifically those paying income tax at the rate of 40% or 50%. The budget is set for Wednesday 21st March 2012, and we can't help but notice that this is getting more press comment than usual this year. It's impossible to know whether changes are likely to happen, but suffice to say that if you're planning on making pension contributions by the end of this tax year, 5th April 2012, and you're concerned about any possible budget changes then you should consider making those payments before budget day. You should always seek advice on this subject prior to taking action. Note that InvestAcc Pension Administration Limited do not provide financial advice. http://www.minervasipp.co.uk/news/prebudget-planning Thu, 8 Mar 2012 09:17:36 GMT 27 We're now making available draft discretionary trusts for advisers. These are sometimes known as Spousal Bypass trusts, or occasionally as Pilot Trusts, and if used properly can save eventual inheritance taxes by avoiding payment of a lump sum death benefit direct to a surviving spouse, but still allowing the spouse to benefit at the trustees discretion. The draft trusts aren't available for download from our website - contact us for information on 01228 538 988. http://www.minervasipp.co.uk/news/spousal-bypass-trust-now-available Fri, 24 Feb 2012 16:54:43 GMT 26 The gilt yield (used to calculate the maximum income for Capped Drawdown) for September 2011 is at an all time low, meaning that maximum income for new Capped Drawdown cases in October will be squeezed even further. The effect of the new income limits introduced in April 2011, together with historically low gilt yields means that maximum income is around 30% lower now, compared to March 2011 (for a male aged 65). http://www.minervasipp.co.uk/news/further-reduction-in-income-drawdown-limits Tue, 20 Sep 2011 10:13:25 GMT 21 Following confirmation in the Finance Act the Lifetime Allowance is due to reduce from £1.8m to £1.5m for any benefit crystallisations after 6th April 2012. It is however possible to apply for protection to maintain the lifetime allowance at £1.8m and HMRC have now made the application forms available at http://www.hmrc.gov.uk/pensionschemes/apss227.pdf http://www.minervasipp.co.uk/news/fixed-protection Sun, 14 Aug 2011 11:27:58 GMT 20 A subtle change in the self assessment tax penalty regime may have expensive consequences for Small Self Administered Pension Schemes. http://www.minervasipp.co.uk/news/09042011--beware-new-tax-penalties Sat, 9 April 2011 14:52:29 GMT 5 After the announcement last year the following key changes to Finance Bill for 2011 are listed. http://www.minervasipp.co.uk/news/28012011--finance-bill-2011-changes Fri, 28 Jan 2011 14:05:01 GMT 6 Newcastle Building Society has changed the interest rate on the 30 Day Notice Deposit Account from 1.50% to 1.00% with effect from 18 November 2010. http://www.minervasipp.co.uk/news/22112010--newcastle-building-society Mon, 22 Nov 2010 11:23:20 GMT 7 The new coalition Government has now clarified its proposals for the abolition of compulsory annuitisation announced in their first emergency budget, consultation is underway with the intention that the changes will be introduced from 6 April 2011. http://www.minervasipp.co.uk/news/29072010--abolition-of-compulsory-annuitisation Thurs, 29 Jul 2010 10:15:32 GMT 8 The Special Annual Allowance Charge introduced by Finance Act 2009 has been amended by the recent pre-budget report. http://www.minervasipp.co.uk/news/10122009--special-annual-allowance-charge--200910-limits Thurs, 10 Dec 2009 16:07:31 GMT 9 The government has announced its intention that from 6 April 2011 tax relief on pension contributions paid by or on behalf of individuals with an annual income of £150,000 or more will be restricted. http://www.minervasipp.co.uk/news/29102009--special-annual-allowance-and-antiforestalling-provision Thurs, 29 Oct 2009 13:28:40 GMT 10 All registered pension schemes must adopt a minimum pension age of 55 into their rules by 6 April 2010. http://www.minervasipp.co.uk/news/23042009--phasing-in-of-minimum-pension-age-55-by-2010 Fri, 23 April 2009 09:30:17 GMT 11 Following the Newcastle Building Societies recent downgrading they have issued the following information:... http://www.minervasipp.co.uk/news/15042009--newcastle-building-society-credit-rating Wed, 15 April 2009 11:31:17 GMT 12 In view of the unprecedented Bank Base Rate drop yesterday Newcastle Building Society have withdrawn the 6 month fixed rate account with immediate effect. http://www.minervasipp.co.uk/news/07112008--newcastle-fixed-rate-account Fri, 07 Nov 2008 17:31:40 GMT 13 The Minerva SIPP has now received Appropriate Personal Pension Scheme status under ASCN 7001427T and is now able to accept transfers in of Protected Rights. http://www.minervasipp.co.uk/news/13102008--appropriate-scheme-certificate Mon, 13 Oct 2008 14:19:02 GMT 15 Due to the current instability in the banking system the Minerva SIPP has sought from the Newcastle Building Society their present position, which is detailed in the following statement: http://www.minervasipp.co.uk/news/13102008--newcastle-building-society-positioning-statement Mon, 13 Oct 2008 13:42:38 GMT 14 HMRC have today announced that protected rights benefits may be held within SIPP's and used for self investment purposes with effect from 1st October 2008. http://www.minervasipp.co.uk/news/27062008--self-investment-of-protected-rights Fri, 27 Jun 2008 11:33:28 GMT 16 The basic rate of income tax will be reducing from 6th April 2008. The Budget Report 2007 announced that the basic rate of income tax would be reduced from 22% to 20% from 6th April 2008, the higher rate of 40% will remain the same whilst the starting rate of 10% will be removed completely. http://www.minervasipp.co.uk/news/06032008--changes-to-the-basic-rate-of-income-tax Thur, 06 March 2008 10:39:50 GMT 17 Provisions contained in Finance Act 2007 are the first step to the Government abolishing the option of Contracting Out of the State 2nd Pension in the form of Protected Rights benefits. http://www.minervasipp.co.uk/news/19112007--government-plans-to-abolish-contracting-out Mon, 19 Nov 2007 15:04:10 GMT 18 There has been a great deal of confusion caused over the issue of members changing individual pension input periods and the impact this has on the annual allowance and tax relief. http://www.minervasipp.co.uk/news/06042007--beware-the-pension-input-period-trap Tue, 10 Apr 2007 12:17:31 GMT 19