When relocating abroad, UK taxpayers should understand how their pensions may be impacted, including access, tax implications, and options for transferring their pensions.
Understanding and avoiding common pension mistakes can significantly enhance your retirement savings and financial security in the UK, especially during the 2024/25 tax year.
This guide outlines the key pension contribution limits and tax reliefs for the 2024/25 tax year, emphasizing the unchanged Annual Allowance of £60,000 and the abolition of the Lifetime Allowance.
The article outlines essential strategies for UK small business owners to manage finances and minimize tax liabilities for the 2024/25 tax year, emphasizing structure, allowable expenses, and tax reliefs.
As the UK tax year ends on April 5, taxpayers should review their finances, maximise allowances, and prepare for tax filing to ensure a smooth transition into the new tax year.