What if I am resident in more than one country? It is possible to be resident in the UK and another country at the same time, which amounts to “dual residence”. In many cases there will be adouble tax treatybetween the two countries of residence which should ensure that you generally...
In that month, prices were rising by 11.1 percent and did not fall below double figures until April 2023. This fall was largely due to slower price increases in key sectors such as energy, which drove a significant amount of the 2022 wave of inflation. Inflation nevertheless remains elevated,...
Please click here to visit EPA You may top up your retirement benefits by paying Additional Voluntary Contributions (AVC’s). AVC’s can be used to provide cash or extra pension at retirement. The total that you pay into the Scheme (your core contributions plus any AVCs)are not...
Will my spouse get a pension if I die in service? If you are a member of either schedule 1 or 3 your Spouse will receive a pension on your death in service. However, there are restrictions if you did not join the scheme when first eligible. ...
This financial pressure has, in some cases, driven UK households to reduce the amount allocated for retirement savings. Among our survey respondents, nearly one in five (17%) said they had stopped putting money into their pension pot at some point during 2023. Furthermore, 7% said they had ...
If you have never worked in Spain, but you are retiring here, having never paid Spanish taxes you will receive the UK State pension by contacting the HMRC at www.gov.uk/check-state-pension How the State Pension works www.gove.uk/state-pension How the new state pension will work www.gove...
Everyone has an annual capital gains tax allowance, or ‘annual exempt amount’ in HMRC-speak. This allowance was halved to £3,000 on 6 April 2024. It is now frozen at this level. If your total taxable gains, minus any deductions, come to more than your annual tax-free allowance, ...
The vast majority of personal and workplace pension schemes in the UK will be set up for automatic tax relief using either the net pay or relief at source methods. If, for some reason, this isn’t the case, you can apply to HMRC for a rebate of the full amount of tax relief. Is...
State Pension Age (SPA) The State Pension is a regular payment from the government that you can claim if you reach the SPA. The State Pension is financed on a pay-as-you-go basis where the amount of the pension depends on the number of qualifying years the individual has built up from...
This means you can invest small amounts without being stung by high trading charges. The U.K. brokers with the lowest stock trading fees are Freetrade, Trading 212, XTB and eToro. You may also want to consider an app that offers good educational material to help you on your way. All...