Tag Archives for " financial planning "

Exposed: 6 Lifetime Allowance Tax Charge Myths

How well do you understand the Lifetime Allowance tax charge?

The lifetime allowance is the maximum amount of pension savings which you can access tax efficiently in your lifetime.  Prior to 2006 there was no limit to the amount you could save. The first lifetime allowance was set at £1.5m.

It rose to a peak of £1.8m for the 2010/11 tax year but has steadily dropped since as successive Governments have raided pensions to fund other projects.

You can now save up to £1m into a pension over your lifetime.

We get a lot of clients & prospective clients asking how this allowance will affect them, so we thought we would set the record straight. Below are the most common myths we hear.

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Q & A: Do you know the tax implications of taking your pension?

Do you know the tax implications of taking your pension? Do you know what kind of income is right for your retirement? Do you know what happens to your pension when you die?

Our new client Peter didn't until we reviewed his retirement plans! 

Peter is 50 years of age, married & currently has 400,000 in a personal pension.  Here is how we helped him understand his concerns!

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Why should you choose Reeves?

If you don't already have a relationship with an adviser who truly understands your retirement goals, and you would like someone to nudge you into a better retirement. You may want to read on.

You are probably like most of our clients who join us, the good news is they are now in control of their retirement goals.

What does working with Reeves mean?
Reeves Independent are authorised by the Financial Conduct Authority (FCA), in other words we provide authorised and regulated advice on your retirement options, which is protected by the Financial Conduct Authority (FCA).

We offer a dynamic Retirement Advice Service, our quality team of experts always go the extra mile for our clients to help build financial security for both the present and the future. Our most recent transact survey shows we do 3X more transactions a year for our clients than the average Independent Financial Adviser, with no extra fee.

We are genuinely committed to providing honest & reliable independent retirement advice.

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Tax Allowances- Your 2018 Guide

Tax Allowances- Your 2018 Guide

Tax rates and rules are constantly changing. Tax Allowances- Your 2018 Guide, will help you navigate and recap on the most important tax allowances. 

Savings and Investments  

Cash ISAs are available to online savers over the age of 16, you can save a maximum of £20,000 with any interest earned being tax-free. The threshold remains the same in the 2018/19 tax year.

Equity ISAs are available to online savers over 18, they are investment based products so are riskier than cash ISAs. You can invest in shares of companies, or in funds, or in investment trusts. Again, the 2018/19 tax year the saving limit is £20,000. 

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