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.
The pensions lifetime allowance effectively caps the amount that can accumulate in a person’s pension fund and be extracted with favourable tax treatment.
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.
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.
Join Whitley Stimpson the day after the Autumn Budget 2021 for a webinar to help you make sense of it all.
Find out your options for selling your business so you can retire. Prepare your business for your retirement, and see how you can do it tax efficiently.
Earlier this month we teamed up with local wealth management and financial planning business Wise Investment to host two pension webinars.