Connect – November 2015

November 4, 2015

Personal Tax Updates

The last few Budget announcements brought a number of changes to the tax system for individuals. The main changes are listed below.

Please see our Personal Tax Update Booklet 2015 for full details.

Also included is a reminder of some of the allowances and reliefs available to individuals, which can often be overlooked, and the issues surrounding pension flexibility.

  • DIVIDEND AND SAVINGS INCOME
  • PROPERTY INCOME
  • INHERITANCE TAX NIL RATE BAND
  • MAKING FULL USE OF ALLOWANCES AND RELIEFS
  • PENSION FLEXIBILITY

 

Recognise Scam or Hoax Emails and Websites

Scam websites and emails are designed to trick you into disclosing personal information such as bank account details, passwords or credit card numbers, there has been a lot of recent press about it and we are aware of clients being affected by the recent scam of office staff receiving fake emails that appear to come from one of their bosses, as reported on by the BBC  http://www.bbc.co.uk/news/business-34580158.

We would recommend that you be suspicious of emails from people or businesses you don’t know, particularly if they promise you money and be suspicious of unexpected emails from your bank or financial institution. Remember banks don’t do business via email and never ask for confidential information via email.

Steps to avoid email and online scams:

Delete suspicious emails and leave websites that:

  • ask you to provide your banking details or personal information
  • promise you money

Remember:

  • Never provide personal details via email, links from emails or requests made via telephone. If you are unsure, double check by telephone with a known contact at the company or organisation.
  • Never follow the links in spam emails; these could lead to downloading unwanted viruses, spyware or malware.
  • Ensure that you have up-to-date anti-virus and anti-spyware software installed on your computer.
  • When using websites:
    • check that they are secure – https sites are secure; http are not
    • Never enter personal information in a pop-up screen – legitimate organisations should never ask you to submit personal information in pop-up screens.
  • Install a ’firewall’ on your computer and make sure it is activated.
  • Set your email filters to high. Setting up email filters can drastically reduce the spam/scam mails and also leave you with time to concentrate on legitimate emails.

 

 

The above should be treated as general information and is not meant to be a substitute for taking specific professional advice.