HMRC pension protection 'window' opens
An estimated 30,000* individuals, including many NHS dentists with pension benefits valued at more than £1.25m, are likely to benefit from HMRC’s Individual Protection from today (18 August). Dentists with NHS pension ‘added years’, personal pensions and those with deferred benefits can also take advantage of the newly available protection.
By having Individual Protection you are able to set your Lifetime Pension Allowance (LTA) up to a maximum of £1.5m, potentially saving a tax charge of £137,500. HMRC is offering the protection as a lifeline for those affected by the £250,000 reduction to the LTA in April 2014. The application 'window' stretches to April 2017, although those looking to retire before then are advised to take action now.
Jon Drysdale, an independent financial adviser at PFM Dental says: "Dentists retiring within the next 12 months need to deal with this issue immediately or face potentially large penalties. Getting the necessary figures at short notice from NHS Pensions will be a challenge, so seeking specialist advice early on is paramount."
Unlike Fixed Protection 2014, the new Individual Protection allows the continuation of active pension contributions.
To complete your Individual Protection application you will need to apply to NHS Pensions for a valuation of benefits.
For more information contact pfmdental on 0845 241 4480 or visit www.pfmdental.co.uk
*Source: HMRC Tax Information and Impact Notes 'Reducing the pensions tax annual and lifetime allowances'.
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GDPUK Ltd announces sale of intellectual property to leading publisher Cogora Group
GDPUK Ltd today announces the sale of its intellectual property assets to Cogora Group, one of the UK's leading publishers of healthcare brands, events and educational platforms.
The decision to sell GDPUK’s intellectual property forms part of a considered transition to ensure the long‑term stewardship and development of the brand and associated assets. Cogora brings a wealth of experience and expertise to support the continued evolution of the dentistry brand within its wide portfolio of market-leading healthcare publications. Its award-winning titles include Pulse, a long‑standing and widely recognised source of political news and clinical education for GPs, Nursing in Practice, Management in Practice, The Pharmacist, Pulse PCN and Healthcare Leader, as well as two secondary care publications – Hospital Healthcare Europe and Hospital Pharmacy Europe. The purchase will cement Cogora as the biggest publisher of primary care titles in the UK and allow it to bring its expertise in providing news, analysis, opinion and groundbreaking stories to GDPUK, as well as continue giving dentists and dental staff a voice through its website.
“After careful consideration, we believe that Cogora is well positioned to take GDPUK’s intellectual property forward,” said Tony Jacobs, founder, editor and publisher of GDPUK.com . “This transaction provides continuity for the professional community associated with GDPUK and creates opportunities for future growth under experienced ownership.”
Tony will continue involvement in GDPUK on a consulting basis.
GDPUK Ltd has worked to ensure an orderly transfer of the intellectual property and wishes Cogora every success in its future development.