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[…]

Estate Planning: House prices raise inheritance tax risk

Inheritance tax is usually charged at 40% on the value of your estate over the £325,000 nil-rate band. This includes your property, money and possessions. There’s an additional allowance of up to £175,000 if you pass on your family home to children or grandchildren.  If you’re married, you can effectively combine your thresholds and transfer[…]

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[…]

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[…]