Considerations for successful retirement planning

14th June 2013

Considerations for successful retirement planning

Did you know - at the current rate, your state pension is worth just over £5,700 and in 2016 new retirees will receive a new flat-rate sum of around £145 per week? The state pension age (SPA) is also changing.
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Do you know how much you need to save to secure your desired income?

As with your personal circumstances, the tax regime and laws change over time, so it’s important to plan and check your retirement arrangements periodically to ensure they are adequate.

For those who want an alternative to pensions, or not to rely on them entirely, the alternatives are almost unlimited, but they should stand the ‘reality and adequacy test’ and factor in the differing tax treatments.

Did you know - that certain items, such as classic cars and residential property, are inadvisable as investments because they are subject to heavy tax penalties?

For more information on large contributions, salary sacrifice, self-invested personal pensions (SIPPs), investment bonds and alternative retirement investments read more

Your business

Have you considered capital gains tax on your business’ capital?

And do you know about entrepreneur’s relief and that it has no minimum age requirement?
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For advice and planning or to understand the tax impact of your business assets, contact us today. 


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