PENSION
Maximising Your Pension Contributions: Essential Guide for Tax Year 2024-25
Optimising your pension contributions is one of the most tax-efficient ways to save for retirement. Making the most of available pension contribution allowances can...
Positive change is afoot with Pension Rules
Although the current climate makes it difficult to think about your long-term financial plans, the government’s changes to the pension rules may provide you with welcome...
Have you paid too much tax on your pension income?
For deaths after 5 April 2018 there is a welcome simplification. From the date of the account holder’s death they will retain their tax free status. So there will be no...
Auto-enrolment – ignore at your peril!
Auto-Enrolment Compliance: Ignore at Your Peril! Employers must adhere to auto-enrolment duties, including submitting a declaration of compliance. Failure to do so can result...
Protecting Your Pension Savings: Lifetime Allowance Tax Charges
The lifetime allowance is the maximum amount you can accumulate in pension savings without incurring additional tax charges. To protect individuals with significant pension...
New state pension entitlement
How Contracting Out Affects Your New State Pension Entitlement The new state pension entitlement depends on your National Insurance (NI) record. If you were ever contracted...
Reduction in annual pension allowance
From 6 April 2016 there is a phased reduction in the annual allowance that can be contributed to a pension scheme. The excess becomes an unrelieved pension contribution. Two...
Pensions or ISAs
ISAs enable one to receive tax free income... However with the tax breaks available for making pension contributions at present this might be an alternative consideration....
Staging dates and auto-enrolment for pensions – directors
Workplace pensions auto-enrolment is a legal requirement for UK businesses, ensuring employees are automatically enrolled into a pension scheme. However, director-only...
State pension changes from 6 April 2016
Understanding the Latest State Pension Changes The state pension changes introduced from 6 April 2016 mark a significant shift in how pensions are calculated and accessed. The...