UK Inflation will continue to rise due to continuing supply issues and rising energy prices. Average UK Inflation expected to be more than 4% in 2022. Impacting savers with negative real interest rates Tax currently is at its highest as a % of GDP since the 1950s. As announced in September the Health and Social…
Are pensions taxable? According to The Compensation Experts, ‘are pensions taxable?’ was searched 5,760 times on Google between May 2020 and April this year. Answer: ‘Your pension is treated as earned income and is subject to income tax. However, it is important to remember that you’re usually able to withdraw 25% of your pension pot…
Tax planning with redundancy payments Redundancies are an unfortunate consequence of current times. And with the Government’s furlough scheme coming to an end, there may be more employers who will need to make cuts to their workforce. It’s important that those facing redundancy understand what is included in their lump sum payment, how it’s taxed…
Why put the money away for the future if you are happy paying the dividend tax? Some business owners would rather take the money out and have this in their current account so that they have total control on this – presumably they believe they don’t control their pensions? But if they saw the following…
