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Pensions – changes to come

The Government plans to bring even greater flexibility into the pension system from April 2015. In effect an individual will be able to choose what they want to do with their defined contribution pension fund.

  • If they want to draw out all of the fund on retirement they will be able to do so. The tax free element will be 25% of the sum and the balance will be taxed as income in that year.
  • If they wish to buy an annuity they will be able to do so.
  • If they wish to opt for a drawdown arrangement they will be able to do this without any restriction either in the form of a cap or a minimum income limit.

These changes will be subject to a consultation and we will keep you informed of developments.

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Accountants for Amazon Sellers
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Amazon Sellers – top tips to ensure your long term success

Have you ever considered selling on Amazon or eBay, setting up an eCommerce business, or a little side hustle?

If this sounds like you, it seems you are not alone.

More and more people these days are selling online to boost their income, sometimes just for a bit of fun and with no higher plans, and other times in the hopes of turning this so called side hustle into their dream job and their very first foray into entrepreneurship…

We have been receiving lots of enquiries recently about accounts and tax for Amazon sellers, so I’ve recorded a little video outlining our top tips if you are thinking about giving it a go yourself…

Read More »

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