Future assumptions on the escalation tax thresholds / allowances

Q - Can you tell me what future assumptions are made on tax thresholds/allowances please? How are they increased each year beyond what's already been set by government?

- The future escalation of tax rate thresholds beyond the known, as set by the government, is controlled using the Default Tax Table Assumption, a setting found on the Preferences screen, which is accessed by clicking the cog, top-left.


Go to Plan Preferences (on the right side of the screen) > Default Inflation / Growth Rates.

This preference can be used to edit and apply an across-the-board annual escalation to the following assumptions, relating to taxes and contribution allowances (with the default rate of escalation being set at 4%). 


Read more >> about the Default Tax Table Assumption. 


Plan Preferences vs. System Preferences

Changes to this setting on the mirror Default Inflation / Growth Rates panel in System Preferences, on the left side of the screen, will be used only going forward, as you create new client cases. System Preferences are used as a template only for new client cases. Changes to System Preferences will not retroactively affect your existing client cases.

If you want to change this preference in any existing client cases, you will need to open and edit them individually, in each case's Plan Preferences.