Pensions and Retirement Planning

The rules around pension planning have changed a great deal recently, arguably making pension planning more important than ever. There are potential significant tax savings to be had with much greater freedom about how and when you draw the funds from the age of 55 onwards.

2016/17
Minimum age for taking benefits55
Annual allowance£40,000
Lifetime allowance£1,000,000
Normal maximum tax-free lump sum25%

The value of pensions and the income they produce can fall as well as rise. You may get back less than you invested.

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News

6 April 2019

Mander Duffill Accountancy Academy with Wiltshire College & University Centre

We are now working with Wiltshire College & University Centre to help train and develop the next generation of accountants.
Julian Duffill, the firm’s Managing Partner, expressed his excitement with ... Read more

5 April 2019

eNews – April 2019

In this month’s eNews we report on tax changes for the new tax year and an update on the Structures and Building Allowance following the Spring Statement. We also consider ... Read more

6 March 2019

eNews – March 2019

In this month’s eNews we report on the ongoing Brexit uncertainties and latest HMRC advice. We also consider National Minimum Wage, National Living Wage and pension contribution increases and the ... Read more