Five Tax Traps to Avoid in Retirement

Tax Traps to Avoid in Retirement

Who doesn’t look forward to a time when all days in the week can be spent doing leisurely activities? For a truly enjoyable retirement, you have to make sure all your affairs are in order early on. To ensure that happens, here are some traps to avoid. Forgetting to take the lifetime allowance into account […]

Cashed Out Pensions Explained

Cashed Out Pensions Explained

Will you Get Taxed on Your Cashed Out Pension? A pension fund is money saved up for your retirement. But under rules introduced in April 2015, you now have an option to take out your pension before you reach the normal retirement age of 65. This is both good news and bad news. Good, because […]

Is It Really Tax-Free When Moving Your Pension to Gibraltar or Dubai?

Is It Really Tax-Free When Moving Your Pension to Gibraltar or Dubai

If you are a non-UK resident or someone moving abroad, there are several things you can do with your UK pension plan. Leave your pensions in the UK pension plan Transfer it to a Qualifying Recognised Overseas Pension Scheme (QROPS) Pay into a UK Pension Scheme from wherever you are overseas Among these options, the […]

Taxes On Pension Payout

Just when pensioners think they can enjoy a huge payout with their retirement fund, it turns out that the government will enjoy it more. The bigger the retirement fund, the bigger the taxes that are imposed on it. But that’s not all; it’s also been revealed that the new pension freedoms will have inaccurate tax […]

How Your Choice of Overseas Pension Scheme May Cost You 55pc Tax Charge

A lot of Britons save into their pension in preparation for retirement overseas. This is made possible through a qualifying recognised overseas pension scheme (QROPS) that is available around the world. Following HMRC’s publication of an updated list,  however, the number of QROPS available to savers has been significantly reduced.  The Australian scheme, for example, […]

Translate »