Tax on inherited private pensions

Tax on inherited private pensions

by | Feb 15, 2024 | Pension

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 telling their pension provider that you should...
Pension Credit deadline

Pension Credit deadline

by | Dec 7, 2023 | Pension

Pension Credits can provide extra income to those over State Pension age and on a low income. The credits were first introduced in 2003 to keep retired people out of poverty.  Pension Credit can top up: your weekly income to £201.05 if you are single; or...
Tax relief on pension contributions

Tax relief on pension contributions

by | Nov 16, 2023 | Pension

Taxpayers can usually claim tax relief for their private pension contributions. There is an annual allowance for tax relief on pensions of £60,000 for the current 2023-24 tax year. The annual allowance was £40,000 in 2022-23. There is a three...
Tracking down lost pension details

Tracking down lost pension details

by | Sep 4, 2023 | Pension

Ever had a nagging feeling that you have a pension pot somewhere but have no idea how to track it down? Well, there is a solution. There is a search link on the GOV.UK website at https://www.gov.uk/find-pension-contact-details that will help. The service will help you...
Pension tax relief at source

Pension tax relief at source

by | Aug 31, 2023 | Pension

You can usually claim tax relief for your private pension contributions. There is an annual allowance for tax relief on pensions of £60,000 for the current 2023-24 tax year. The annual allowance for 2022-23 was £40,000. You can claim tax relief on...
Overview of private pension contributions

Overview of private pension contributions

by | Aug 17, 2023 | Pension

You can usually claim tax relief for your private pension contributions. There is an annual allowance for tax relief on pensions of £60,000 for the current 2023-24 tax year. The annual allowance was £40,000 in 2022-23. There is a three year carry forward...