New data released through a Freedom of Information request shows that over five years, the number of savers opting to access their pension flexibly ahead of retirement has increased by 18%. Why are so many choosing to dip into their pension pots early rather than waiting until full retirement age?

Moving To Europe to Receive Your UK Pension Tax-Free? In recent years, a growing number of British pensioners have opted to retire abroad—especially in EU countries. According to the latest analysis, tens of thousands of UK retirees living in Europe are enjoying what some are calling a ‘hidden perk’: receiving as much as £35,000 a year in State Pension income, with little to no UK tax liability.

In this article, we’ve compiled eight key personal tax reliefs and allowances still available, along with how to apply for them. These will help you manage your tax planning more effectively and protect your wealth. Save or bookmark this guide for future reference.

Millions of people will receive a £150 energy bill discount; the Chancellor is considering easing inheritance tax reforms to curb capital outflows; the Bank of England keeps the base interest rate at 4.25%.

Did you know? Nearly half of retirees to be hit by Inheritance Tax bill. According to data analysis, approximately 46% of individuals aged 85 to 89 receive a State Pension that exceeds the £12,570 tax-free personal allowance, meaning they must pay income tax on their pension income. For retirees aged 90 and above, this figure stands at 45%. Among those under 85, around 22% are also taxed on their State Pension income — effectively subject to a so-called ‘retirement tax’.

Between the 1970s and 1980s, around 5,000 haemophiliacs and other blood disorder patients in the UK were infected with HIV or hepatitis viruses after receiving contaminated blood products from the NHS. Nearly 3,000 died as a result. Under current UK inheritance tax laws, only the first direct heir is exempt. Any subsequent inheritance of that scandal compensation is subject to up to 40% tax.

Prime Minister says government 'will look at' scrapping two-child benefits limit; Labour plots ‘family bathtime tax’ on water bills; Reeves outlines plan for £25bn pension 'megafunds'.

Do You Need to Pay Tax on Savings Interest in the UK? Today, we’ll provide detailed information on taxation of bank interest earnings.

Does Paying More Tax Result in a Higher Pension?

While you can still imagine the aroma of turkey and red wine, for many, the festive season left behind a burden: debt.