Claiming Your Workplace Pension

Claiming Your Workplace Pension

Research from HSBC Tomorrow Master Trust has found that nearly £2 billion is being lost by pensioners when claiming their workplace pension.  The reasons for this include high tax bills, penalty charges for transferring and a lack of retirement income choices.   So...
You May Soon Have To Pay Tax On Your Savings

You May Soon Have To Pay Tax On Your Savings

For years you have probably not really had to worry about paying tax on your savings.   Interest rates on cash savings have been virtually zero for over 12 years. The last time the Bank of England base rate was over 1% was back in 2009.  In recent months interest...
What You Need To Declare To HMRC

What You Need To Declare To HMRC

If you are employed or retired, you don’t usually need to complete a self assessment tax return for your income and declare to HMRC (HM Revenue and Customs).   Employers and most pension providers will pay you via a payroll system such as PAYE (Pay As You Earn) so...
It’s Not A Good Idea To Die An ISA Millionaire

It’s Not A Good Idea To Die An ISA Millionaire

It’s actually easier to become an ISA millionaire than you may think.   If you had contributed the full allowance into an ISA each year for the last 20 years you would have around £245,560 before factoring in any investment return.   Even if you are retiring now with...