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Inheritance Tax

As the old joke goes, the only two certainties in life are death and taxes.  Inheritance tax is the tax taken out of a deceased person’s estate before the remainder is passed on to their heirs.  The way IHT currently works is that transfers between spouses/civil...

Income Drawdown

Income drawdown came about as the result of the “pension freedoms” legislation of April 2015.  Before that date, most of a pension fund had to be used to buy an annuity.  Annuities are basically guaranteed incomes for life.  The annuity system worked well when...

Pensions and Divorce

Dividing property during a divorce can be a complicated process.  The more assets a couple has, the more complicated it can become.  At present, the two highest-value assets the average couple is likely to own are a house and a pension fund, or funds.  Houses can be...

How Personal Pensions Work

The basic idea behind personal pensions is fairly simply.  You pay in money throughout your working life.  This is invested by your pension provider (or by you directly in the case of self-invested personal pensions) and when you retire the investment returns are used...

Pension for Directors

Company directors do not necessarily make all, or even most, of their income through a regular salary in the same way that many employees do.  Their remuneration is likely to be closely tied to the company’s profits and thus may vary from year to year.  What’s more,...

Life and Critical Illness

Life cover pays out in the event of your death.  Critical illness cover pays out if you are diagnosed with one of a range of specified illnesses.  Life and critical illness cover combines these two forms of insurance into one policy. Life cover can take the form of...