With the recent freezing of the pension lifetime allowance at the current level of £1,073,100, many clients are now looking at ways to mitigate this as nobody wants to get caught in the 55% tax trap. The pension lifetime allowance is an incredibly complex piece of legislation, however, planned correctly, you don’t necessarily need to …
Pension Lifetime Allowance Freeze – It’s Optional… Read More »
Critical & significant illness cover explained Relevant life | critical illness cover | significant illness cover Relevant life has been very popular for a long time with company directors and contractors alike as even though the policy would be paid to their family upon death or terminal illness, it could be offset against the company …
Will these new state pension changes affect you? It is very important to stay ahead and aware of the massive changes to state pensions coming in 2019/20. These changes mean people could receive more money next year depending on their personal situation. The government have revealed what the new basic and single-tier state pension rates …
A recent poll conducted by FTAdviser states that almost two-thirds of advisers believe a rise in the personal allowance to £12,500 will have the most positive impact on clients. This was the result when advisers were asked which of the four budget announcements will have the largest impact on their clients in a positive way. We …
Recent poll puts personal allowance above LTA in 2018 changes? Read More »
It’s easier than you think to run up against the pensions lifetime allowance, says David Prosser. Although the government insists that the lifetime allowance (LTA) on pension funds is a tax that hits only a handful of very wealthy savers, it affects more people than you might think. HM Revenue & Customs is raising steadily …
The tax paid by individuals who have breached the lifetime allowance (LTA) has soared by 1,000% since it was introduced in 2006. Figures obtained by Retirement Advantage earlier this year highlighted that £110 million in tax was obtained from savers who exceeded the LTA during 2016/17, compared with less than £10 million in 2006/7 when the allowance …
How do people get stung with Lifetime Allowance charges? Read More »
Planning for retirement can seem like a daunting prospect. There’s so many products and services to help you save for the future on the market, it’s difficult to distinguish between them and determine which one is the most suitable for your situation. The latest product to hit the market is the Lifetime ISA (LISA), which …
Lifetime ISA vs SIPP: What is best for retirement? Read More »
ETFs, better known as market trackers, do what they say on the tin. They buy all of an index to allow you to track the performance of that market. Take the FTSE for example. Buying a FSTE 100 tracker would give you ownership of every company in the FSTE 100. The amount of each company …
Although this could be a sore subject for many of those reading, the article below and ones like it are important to pay attention to with shifts in the pensions environment. Below you will find an article released on 14/01/18 by Geoff Ho on express.co.uk. In the 24 hours since this article was released, Carillion …
The Budget 2017 did not cut the pension lifetime allowance as feared. But what is the pension lifetime allowance? The pension lifetime allowance (LTA) is the overall amount of pension savings that you can have at retirement without incurring tax charges. The Pensions Advisory Service says: “The Lifetime Allowance is a limit on the amount …
What is the pension lifetime allowance and what changes were made in Budget 2017? Read More »
