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Tax to pay when you get a pension

Tax to pay when you get a pension

You may have to pay Income Tax on your pension if your total annual taxable income exceeds your Personal Allowance. This applies whether you receive the State Pension, a workplace pension or a personal pension. Your total taxable income can include the basic or new...
Check your State Pension forecast now

Check your State Pension forecast now

A new press release from HMRC is highlighting the fact that almost 7 million UK adults could be heading towards retirement without knowing how much State Pension they may be entitled to. New research has found that around one in eight adults (12.5%) have never checked...
Tax relief on pension contributions for employees

Tax relief on pension contributions for employees

Receiving tax relief on pension contributions into a workplace pension is a great way to help prepare for retirement. In addition, contributions from your employer can make the pension savings even greater.  If you are automatically enrolled into a workplace...
Have you checked your State Pension forecast recently?

Have you checked your State Pension forecast recently?

Your State Pension forecast can help you plan for retirement by showing how much State Pension you could be entitled to, when you can claim it and whether there are ways to increase your entitlement.  The online forecast service...
Pension tax relief and allowances

Pension tax relief and allowances

Pensions remain one of the most tax-efficient ways to save for retirement, due to a range of tax reliefs and allowances that can help boost retirement savings. One of the key advantages of private pension contributions is the availability of tax relief on pension...
NIC and tax after reaching State Pension age

NIC and tax after reaching State Pension age

If you continue working after reaching State Pension age, your National Insurance position changes, but your Income Tax obligations largely remain the same. Once you reach State Pension age, you stop paying employee National Insurance contributions (Class 1) on your...