Pension savings lifetime cap removed

Pension savings lifetime cap removed

The pensions lifetime allowance effectively caps the amount that can accumulate in a person’s pension fund and be extracted with favourable tax treatment.

Pension allowances increased

Pension allowances increased

The Chancellor announced the relaxation of three different pension allowances to encourage older taxpayers to remain an active part of the workforce or to return to employment if they have retired early.

Put family first for tax efficient succession planning

Put family first for tax efficient succession planning

Businesses take years to build up with the owners spending the best part of their lives ensuring they are successful. But what happens when it is time to retire? An obvious solution is to pass on the company to family, but care should be taken to avoid a considerable tax bill.