28Oct, 2015

Newsletter – Autumn 2015

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Lifetime Allowance Reduction The significance of the reduction in the personal pension fund allowance to £1m in the last budget should not be overlooked by long serving and higher earning practitioners, especially those members of the NHS Superannuation Scheme. To avoid the imposition of an income tax surcharge on your accrued pension benefits, it is important to assess your position and take the appropriate action. If your liability is £2,000 or less then you will be obligated to paying that with your annual tax bill. If your liability is greater than £2,000 in any one year, then you can […]