How to extract profits out of companies

Believe it or not, there are more than 4.7 million limited companies registered in the UK. This includes the 810,316 incorporations that signed up in 2020/21.  Only around 2m are actively trading. But, the number of new companies formed during the previous tax year was a 22% year-on-year increase.  Unsurprisingly, that percentage represented the highest[…]

Pension options at the age of 55

Understanding your early-access pension options can be difficult. Despite remaining complex, pensions offer you far more flexibility from the age of 55 than was once possible. This is rising to 57 from 6 April 2028. If you are approaching 55, you might be feeling a twinge of trepidation. However, you may feel excitement that you[…]

Personal tax planning in 2021/22

Personal tax planning in 2021/22 If there’s one thing to take away from Spring Budget 2021, it’s taking charge of your personal finances is going to be increasingly important over the next five years. With the financial fallout from COVID-19 over the last year being the fiscal equivalent of fighting a war at more than[…]

How to plan for your Retirement

Get on track for a comfortable retirement. If you have a defined contribution pension scheme – whether private or through your employer – your retirement savings have probably been hit quite hard by the COVID-19 pandemic over the past 12 months. That’s because pension funds invested in the stock market and recent turbulence, which has[…]

Employer issues with automatic enrolment

Policy success, but headache for employers? Back in 2012, less than half of private-sector employees in the UK had a pension scheme. Today, that figure is 85% and this huge increase is due to the successful rollout of auto-enrolment. It started with the largest companies and now applies to employers of all sizes with staff[…]

Tapered annual allowance

How it affects high net-worth individuals The tapered annual pension allowance for high net-worth individuals was in the headlines again recently. Concerns were raised that its impact on doctors within the NHS pension scheme is prompting high-earning NHS staff to leave their posts or reduce their hours. In December 2018, it was reported that the[…]