ISA returns of the year

We take a look at the ISA returns of the year and ask if it’s time for you to explore your ISA options? An Individual Savings Account (ISA) enables you to save in a simple tax-efficient way, while generally giving you instant access to your money. This gives you short, medium and long term saving…

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Personal pensions

A personal pension is a type of defined contribution pension. You choose the provider and make arrangements for your contributions to be paid. If you haven’t got a workplace pension, getting personal pension could be a good way of saving for retirement. Your pension provider will claim tax relief at the basic rate and add…

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Personal pensions

A personal pension is a type of defined contribution pension. You choose the provider and make arrangements for your contributions to be paid. If you haven’t got a workplace pension, getting personal pension could be a good way of saving for retirement. Your pension provider will claim tax relief at the basic rate and add…

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Pension lifetime allowance

The pension lifetime allowance is a limit on the value of payouts from your pension schemes – whether lump sums or retirement income – that can be made without triggering an extra tax charge. The lifetime allowance for most people is £1,055,000 in the tax year 2019/20. It applies to the total of all the…

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Purchase An Annuity

You can normally withdraw up to a quarter (25%) of your pot as a one-off tax-free lump sum, then convert the rest into a taxable income for life called an ‘annuity’. There are different lifetime annuity options and features to choose from that affect how much income you would get. You can also choose to…

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Purchase An Annuity

You can normally withdraw up to a quarter (25%) of your pot as a one-off tax-free lump sum, then convert the rest into a taxable income for life called an ‘annuity’. There are different lifetime annuity options and features to choose from that affect how much income you would get. You can also choose to…

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Turn pensions into money you can use

Under the pension freedoms rules introduced in April 2015, once you reach the age of 55, you can turn pensions into money you can use; you can take your entire pension pot as cash in one go if you wish. However, if you do this, you could end up with a large Income Tax bill…

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Turn pensions into money you can use

Under the pension freedoms rules introduced in April 2015, once you reach the age of 55, you can turn pensions into money you can use; you can take your entire pension pot as cash in one go if you wish. However, if you do this, you could end up with a large Income Tax bill…

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2020 Financial Resolutions

What are your 2020 financial resolutions? Whether it’s stopping smoking, losing weight, eating more healthy or getting fitter, most of us have probably made at least one New Year’s resolution, but how many of us will actually go on to achieve it? We all have different financial goals and aspirations in life, yet these goals…

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First TIPS Financial Magazine of 2020

Welcome to the first edition of our TIPS financial magazine of 2020. Inside this issue, we feature articles covering a number of different topics to help you successfully grow and protect your wealth. Whether it’s stopping smoking, losing weight, eating more healthy or getting fitter, most of us have probably made at least one New…

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First TIPS Financial Magazine of 2020

Welcome to the first edition of our TIPS financial magazine of 2020. Inside this issue, we feature articles covering a number of different topics to help you successfully grow and protect your wealth. Whether it’s stopping smoking, losing weight, eating more healthy or getting fitter, most of us have probably made at least one New…

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Taking money from your pension

Did you know there are ways you can be taking money from your pension? You can use your existing pension pot to take cash as and when you need it and leave the rest untouched where it can continue to grow tax-free. For each cash withdrawal, normally the first 25% (quarter) is tax-free, and the…

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