Most of us do not understand the finer details of our pension arrangement, in terms of our various available options- how much money you have access to, when you are able to access it and how these options may impact our savings and returns in terms of taxation and growth.
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Have a question?
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Your partners in planning and success
While some of us may want a lump sum paid out to us the day we retire, others may simply be happy to receive smaller portions of our retirement savings on a monthly basis. There financial planning industry as a whole is unfortunately always changing and effecting new laws and regulations, which may be hard to stay up to date with. These types of changes not only affects when and how we access our savings, but also impacts how we go about saving our hard earned cash. For these reasons, it is highly advisable to seek the services of experienced professionals when making arrangements for your pension scheme.
Advice For Pension Arrangments
We at The Accountancy Solutions are able to offer you valuable and timely advice on how best to access your pension funds, so that you don’t end up in a situation where you end up with the short end of the stick- we can ensure that you:
- Minimise government taxation on your pension funds
- Create sufficient access to your pension funds when you need it
- Avoid any unwanted penalties when accessing your funds
- Ensure that you have enough long term coverage of fund payouts to sufficiently support your living expenses
Speak to our specialist today to ensure that you and your family don’t end up paying the price for inadequate planning of your pension arrangements and have the kind of retirement you deserve.
We care for our clients. Building and maintaining fantastic relationships is what we do best, we will never treat you as a number which is what makes our approach so unique. The highest level of customer service combined with a keenness to listen and work together with our clients means that we leave a stream of happy clients in our wake every single day. Our services come with unlimited help and support provided at no extra cost throughout the year.That help and advice will all come courtesy of your own fully qualified and dedicated small business accountant.
Got a question?
Are you just looking for an answer to a general question? We always provide free advice to individuals and self employed persons. You can send us an email, call us or fill in the form. But you should be asking answers to general questions.
Frequently Asked Questions
Most frequent questions and answers
No we do not charge any fee for initial consultation. We will try to give you free guidance if its something you can do easily by yourself. We will only charge you if you appoint us to do some work for you.
We are giving free advice on general questions and this is one way of paying back to our local community who cannot get through to tax man. But if your question is of specific nature, we will tell you about our fee.
You can certainly ask question about accounting but you should know that we cannot teach you accounting over the phone or online. If you are not familiar with book keeping or accounting, its best to hire an accountant?
If you are only after advice, we will make a decision after hearing question. It may take further investigation and we may have to look into your personal circumstances to answer your question.
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Our clients are our assets and we take every step to look after them and provide them the advice and support when ever they need.
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If a person already has 35 qualifying years or is likely to do so by the time that they reach state pension age, missing a year will not adversely affect their state pension entitlement. However, if they have less than 35 years (and will be able to reach the minimum 10 years needed for a reduced state pension by the time that they reach state pension age) making voluntary contributions can be worthwhile.
While any gain on the sale of a property that has been the taxpayer’s main residence throughout the period of ownership is covered by private residence relief, the flip side is that if the main residence is sold at a loss, the loss is not an allowable loss for capital gains tax purposes.
Taking a loan can be tax efficient, particularly if paid back before the trigger date for the s. 455 charge. It may be an attractive option to get over a difficult period where a return to profitability is anticipated, allowing a dividend to be declared to clear to loan balance.