Pension planning is often seen as an essential aspect of personal finance but is frequently overlooked by individuals and sole traders. However, with rising living costs and an uncertain economic landscape, it’s more important than ever to secure one’s financial future. One key incentive to contribute to a pension scheme is its array of tax…
The payment of National Insurance contributions entitles people to certain state benefits such as the state pension, maternity allowance and bereavement benefits. NICs are payable if you are: aged over 16; an employee earning more than £190 a week (2022/23); self-employed with profits over £6,725 (2022/23). In order to get a full state pension, you…
Key measures the Chancellor announced yesterday include: • a one-off non-taxable Cost of Living Payment of £650, made in two instalments, from the Department for Work and Pensions (and HMRC for Tax Credits customers) to provide additional support to more than 8 million people in receipt of income-related benefits. DWP will make a separate additional…
When running your business, you’re mainly thinking about the here and now, and making most of your opportunities. And planning consists of the next 3 months, the next 12, and potentially up to around 5 years into the future. As such, Pensions are not high on your agenda, but they should be. When we talk…