Pension Payments
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In a separate article, we looked at First Year Allowance (FYA) that typically involves allowing taxpayers to write off a percentage of the expenditure of providing a capital asset in the year it was acquired. Writing Down Allowance (WDA) is different in that you can claim up to a set ... (Read More)
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A lease can be of a building or land which is received by the lessee along with several permanent fixtures forming part of the asset. Alternatively, the lease can be an equipment lease for plant and machinery purchased by a lessor and leased out to a lessee. The plant and ... (Read More)
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Plant and Machinery Allowances (PMA) can typically be claimed only by the owner of the asset. However, in hire purchase contracts, the hirer can claim PMA on the hired asset even though legally that person is not yet the owner. The legal owner, the person who buys the asset and ... (Read More)
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Pension payments are the process whereby a pension pays out from the fund you have accumulated to you through one of the main methods of taking benefits from your pension such as a tax free lump sum, annuity payments or drawdown.
Each of these has varying limits and rules on how ... (Read More)
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Pension release allows you to access money you have saved for your pension before you retire, or before the full term of your pension is up. It doesn’t matter if you have a private or company pension, if you are over 55 and have over £8,000 in your pension fund, pension release may be possible ... (Read More)
