Major changes to pensions and a big increase to the amount of money people can save without paying tax announced in the Budget are likely to increase demand for advice on inheritance tax and tax planning.
From 1 July, the limit on the amount of money an individual can pay into a tax-free Individual Savings Account (ISAs) will be increased from £11,800 to £15,000.
The new accounts will be called New Individual Savings Accounts (NISAs). The savings can be held in cash or stocks and shares.
The new proposed rules for pensions will come in from April 2015, but some of the rules have already started to be phased in.
From April 2015, you’ll be able to withdraw as much of the money as you want from your pension when you rea...