Related Posts

Have you prepared emotionally for retirement?

Retirement planning

January 20th 2021

£1.9 billion gifted to younger generations during the pandemic


January 20th 2021

Beware of pension trap when accessing your pension before retirement


January 20th 2021

Budget Update: November 2021


The Autumn Budget was held on Wednesday 27th October and we thought that it would be useful to provide a brief summary of the key points.

Firstly, it has already been announced that the majority of tax rates and allowances, have been frozen until 2025/26. This includes:

  • Income Tax allowances/thresholds:
    • Personal allowance – £12,570
    • Higher rate threshold – £50,270 (England & Wales – the Scottish Budget doesn’t take place until 9th December)
  • Capital Gains Tax – £12,300
  • Inheritance Tax
    • Nil Rate Band – £325,000
    • Residence Nil Rate Band – £175,000
  • Corporation Tax 
    • Set to rise to 25% from April 2023
    • Small companies with profits below £50,000 will continue at 19%
    • Reintroduction of tapering relief for businesses with profits under £250,000
  • Pension Lifetime Allowance – £1,073,100

With inflation expected to remain high, it is more important than ever, to efficiently utilise your available allowances. If you would like to discuss further, please do get in touch with Val or Claire. You’ll find their contact details on our website, by clicking their names.

So what changes were there? Thankfully there were no big surprises, but here’s a summary of the main points, some of which were already expected:

  • Pensions for low earners – the way in which some people make payments to their pensions, means that they are losing out on tax relief (ie where a pension contribution is deducted from gross pay, but the individuals earnings are below the personal allowance). HMRC are to identify these individuals and they will become entitled to a top up, from 2025/26.
  • ISA allowances are to remain as they are – £20,000 for adults and £9,000 for Junior ISAs.
  • State Pension is to increase by 3.1% from 6th April 2022.
  • Dividends – the rate of tax is to increase by 1.25% from 6th April 2022.
  • National insurance was confirmed to increase by 1.25% from 6th April 2022 for employees, employers and the self–employed.

Should you wish to discuss any of these changes, please contact Val or Claire, to discuss further.

What our clients say

I would like to thank EBS and their staff for providing an excellent service, making the minefield of my various pensions seem like an easy task and for keeping me updated on the progress. I would not hesitate in recommending them to anyone looking for pension advice.

Trust and expertise were my key needs for re-establishing my financial portfolio following a divorce. The replacement life cover and complete evaluation of my pension goals were perfectly designed and implemented to suit my changed circumstances. Well done EBS!

Honest and comprehensive financial advice given with no pressure to buy any products. Reasonable fees for advice and ongoing costs. Very happy with the services given.

Many thanks for taking so much time to meet and discuss our retirement funding plans with us yesterday. The detail of the analysis was very impressive, and you and your staff are to be congratulated on a very professional job.

Our grateful acknowledgements are due for the advice and support proffered by the EBS team and everyone we met at entry, all very courteous, personable and a pleasure to meet.

The ‘Portfolio Report’ that EBS offers has made understanding and managing the family budget so much simpler. It gives a detailed summary and breakdown of our overall financial position, which is so helpful when cross-referencing it.

Thank you for your very comprehensive letter and schedules.... I must reiterate my thanks for all you have done for me.

Many thanks indeed to you and EBS for doing your very best for me. I know I am in safe hands with you. It really is very much appreciated!

I would also like to thank you all for the work in getting this organised for us. I know it has not been easy but I really appreciate it all.

FR, Lanark

JS, Glasgow

IM, Dunbartonshire

RS, Biggar

BW, Skelmorie

MP, Glasgow

BA, Salisbury

MR, Glasgow

NM, Glasgow

Get in touch

    How would you like to be contacted?

    You voluntarily choose to provide personal details to us via this website. Personal information will be treated as confidential by us and held in accordance with the Data Protection Act 2018. You agree that such personal information may be used to provide you with details of services and products in writing, by email or by telephone.