UK Pensions – Frequently Asked Questions

UK Pensions – Frequently Asked Questions

What type of pensions are there in the UK? Defined Benefit (Company Final Salary Pension Schemes) Defined Contribution schemes (personal pensions like Legal & General, Standard Life) What is a Cash Equivalent Transfer Value (CETV)? UK Defined benefits schemes use...
£750BN in lost forgotten UK workplace pensions

£750BN in lost forgotten UK workplace pensions

People who move jobs and migrated have unwittingly amassed billons in forgotten pensions. Britain is heading for a ‘lost pensions’ crisis with an increasingly mobile workforce predicated to create a £757bn trail in dormant pensions that could deprive them of thousands...
UK Pensions – Transfer or Leave?

UK Pensions – Transfer or Leave?

There are many things to consider when deciding whether to transfer your UK pension funds to Australia or leave your funds in the UK. If you transfer funds to Australia: Tax advantage: you will have the flexibility of full access to your pension, when you retire from...
Worked in the UK? Entitled to a UK State Pension?

Worked in the UK? Entitled to a UK State Pension?

Did you know that you can increase and maximise your current entitlement to a UK State pension by making additional voluntary National Insurance contributions, even if you are not a UK national? Due to recent legislation changes, if you have less than 10 complete UK...
Three-quarter FBT year compliance check-up

Three-quarter FBT year compliance check-up

As the FBT year runs from 1 April to 31 March, the months of October to December marks the “third quarter” of the FBT year, and so here is an overview of the FBT elements that can attract the ATO’s attention. This can be a timely period for a compliance check-up, so...
Personal services income: An overview

Personal services income: An overview

It is not uncommon for professional people who provide services to set up a separate entity to run their business, be it a trust, partnership or incorporated company. The allure of course is the lower tax rate that these can secure, rather than at the top marginal tax...