“Budget 2020: Relief for higher-rate taxpayers as no changes to pension tax relief system”

Mar 12, 2020 | Pensions

I guess Rishi had other things on his mind, but, once again, the only Budget changes to pensions amounted to a bit of tinkering. The amount doctors and others can earn before their pension annual allowances are hit has been increased and, for probs the 40th year in a row, the ‘pension tax relief to be cut’ rumour has proven to be just a rumour. No changes, either, to Inheritance Tax; but, for those planning to sell their businesses and retire, a pretty big cut in capital gains tax relief. So you’re stuck with me for a few more years. Soz.

“Pension pot needed for basic retirement RISES 60% to nearly £110,000”

Sep 11, 2024 | Pensions

We’re often asked ‘how much do I need in my pension to be able to retire?” We have, as you might expect, to give a politician’s answer: ‘Well, that all depends’.

“New pensions minister: key priorities for Emma Reynolds”

Jul 16, 2024 | Pensions

Of all the various varieties of pension, the State one alone has remained unchanged; in principle, that is. When it was introduced in 1909, the minimum age was 70 (and 95% of the population didn’t make it that far), and you’d be means-tested to get your five bob a week.

“Reeves includes pensions in series of reforms for growth”

Jul 8, 2024 | Pensions

I’ve had several emails within days of the Labour Landslide, from clients worried about their tax-free cash, tax relief on pension contributions or IHT and what will or won’t be paid out from their pensions on death.