New Pension Rules – The Downside

New pension rules came into effect on 6 April 2015 which have brought many welcome changes. But what about the changes which are not so good? Careful consideration needs to be made with regard to how the changes may affect you. The most significant change is probably the removal of pension funds from Inheritance Tax. … Continue reading New Pension Rules – The Downside

New Pension Rules Can Save Inheritance Tax

Major changes to the pension rules came into effect on 6 April 2015 which can have considerable benefits for inheritance tax. Under the previous system, when someone died over the age of 75 without having spent all their pension funds, the money was normally taxed at 55% (unless a spouse or civil partner or dependent … Continue reading New Pension Rules Can Save Inheritance Tax

How Pension Planning Can Help Retain Child Benefit And Save Inheritance Tax

If you or your spouse/partner has an income between £50,000 and £60,000, your child benefit is clawed back at the rate of 1% for every £100, and for those earning above this, the claw back equals the whole amount of the benefit received. By making additional pension contributions, you could retain child benefits. For example, … Continue reading How Pension Planning Can Help Retain Child Benefit And Save Inheritance Tax