Pension Archives - Elver Consultancy Chartered Accountants Wigan

Tax relief for private pension contributions

Elver Consultancy — Wed, 18 Sep 2019 04:00:00 +0000

You can claim tax relief for your private pension contributions. The annual allowance for tax relief on pensions is £40,000 for the current tax year. There is also a facility to carry forward any unused amount of

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State Pension update for recipients living in the EU

Elver Consultancy — Wed, 04 Sep 2019 04:00:00 +0000

If you live or move abroad, you are entitled to claim the State Pension if you have met the necessary qualifying criteria. This is based on your UK National Insurance record. You require a minimum of 10 years of UK

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What you can do with your pension pot

Elver Consultancy — Wed, 14 Aug 2019 04:00:00 +0000

Pension Wise is a free government service that was launched in 2015 to help provide individuals with general pension advice. However, the service does not answer specific questions relating to your pension. The main

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Tax on a private pension you inherit

Elver Consultancy — Tue, 14 May 2019 23:00:00 +0000

Private pensions can be an efficient way to pass on wealth, but it is important to consider what, if any, tax will be payable on a private pension you inherit. The person who died will usually have nominated you by

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Carry forward of unused pensions allowance

Elver Consultancy — Wed, 03 Apr 2019 04:00:00 +0000

The annual allowance for tax relief on pensions has been fixed at the current level of £40,000 since 6 April 2014. Since April 2016, the annual allowance has been further reduced for high earners. Those with income in

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Automatic enrolment for the self-employed?

Elver Consultancy — Wed, 09 Jan 2019 04:00:00 +0000

The government has confirmed that they are to examine a number of different approaches to help encourage the self-employed to save for their retirement. The success of automatic enrolment for pension savings for the

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Check your State Pension age

Elver Consultancy — Wed, 19 Dec 2018 04:00:00 +0000

A 'Check your State Pension age' tool is available at www.gov.uk/state-pension-age/y. The tool allows taxpayers to check the earliest age they can start receiving the State Pension. The State Pension age is based on a

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Pension automatic enrolment changes

Elver Consultancy — Wed, 28 Nov 2018 04:00:00 +0000

Automatic enrolment for workplace pensions encourages many employees to start making provision for their retirement with employers, and as a bonus, government also contributes to their pension pot.
The law states that

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Tax to pay if you exceed the annual pensions allowance

Elver Consultancy — Thu, 18 Oct 2018 04:00:00 +0000

The annual allowance for tax relief on pensions has been fixed at the current level of £40,000 since 6 April 2014. The previous allowance was £50,000 and prior to 6 April 2011, the annual allowance was as high as

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Employer pension contributions

Elver Consultancy — Wed, 26 Sep 2018 04:00:00 +0000

Employer contributions to any type of pension arrangement in a registered pension scheme are always paid gross. Tax relief is given by deducting the gross amount of the contributions from an employer’s taxable profits

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