fbpx

Voluntary NI and Self Assessment

With Self Assessment season for 2020-21 in full swing, its useful to revisit Voluntary NI issues, and maintaining access to State Benefits and State Pension. Entitlement to State Benefits, primarily State Pension, is currently generated from either: Class 1 National...

Pensions update – all you need to know

Updates to annual, lifetime and tapered annual allowances and more.   Why make a pension contribution? When you save into a pension, the government usually gives you a top-up as a way of encouraging you to save for your future. If certain conditions are satisfied, tax...

Pension drawdown – allowances

The MPAA in summary.  Where taxpayers have accessed a pension, the amount they can pay into a pension and still get tax relief is the Money Purchase Annual Allowance (or MPAA) which for the tax year 2019-20 is £4,000. Where it’s exceeded it should be entered on the SA...