The closer you are to retirement, the more important your retirement planning becomes. The last five years of work may be some of the most critical of all. If your plans are in place and your pension pot has grown to a level that can provide the income you need in your retirement, you may be […]
With all of the changes to personal pensions in the Spring Budget, maximising the State Pension entitlement should not be overlooked. The full rate of new State Pension increased to £203.85 per week (£10,600 pa) from 6 April 2023; a 10.1% increase over the 2022/23 rate as a result of the “triple lock” being restored. […]
The latest Finance Bill will legislate the announcement in the Spring Budget that the lifetime allowance (LTA) charge is abolished from 6 April 2023. Individuals will continue to be able to receive 25% of their pension savings as a tax-free lump sum when they become entitled to their pension benefits. From 6 April 2023, for […]
At this time of year we may be thinking about New Year’s resolutions. It is also a good time to start planning your tax affairs before the end of the tax year on 5 April. An obvious tax planning point would be to maximise your ISA allowances for the 2022/23 tax year (currently £20,000 each). It is […]
