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Generating a sustainable income in retirement isn't always straightforward. While Pension Freedoms legislation offers flexibility, it also comes with greater responsibility for managing your own income and investments. The decisions you make can significantly impact your pension fund, and mistakes can be costly. If you're approaching retirement, now is the time to seek advice on generating a tax-efficient income from your savings. Working with a financial planner can help you: 🔹 Create a comprehensive retirement plan 🔹 Manage your pension withdrawals to optimise tax efficiency 🔹 Regularly review your plans to ensure they stay on track 📞 Get in touch to secure a comfortable retirement and make the most of your pension savings | info@bee-sure.co.uk | 0333 305 6692 #RetirementPlanning #PensionAdvice #FinancialFreedom #BeeSure

When it comes to taking money from your pension pot, there are multiple options available: 🔹 Buying an annuity 🔹 Using flexi-access drawdown 🔹 Taking lump sums Thanks to Pension Freedoms legislation, you can mix and match these options for more flexibility. Working with a Financial Adviser ensures that you draw your income tax-efficiently, maintain your desired lifestyle in retirement, and keep one eye on the legacy you want to leave behind. 📥 Download our free guide to explore these options in more detail and see real examples to help you make informed decisions for your future. #PensionPlanning #RetirementIncome #FinancialAdvice #BeeSure

96% of high-net-worth individuals underestimate how much is needed for a comfortable retirement? (Source: FTAdviser) With longer life expectancies and rising costs, it's more important than ever to plan effectively for your future. Don't leave your financial security to chance. Planning ahead is key to ensuring your retirement savings are sufficient to meet your goals. 📥 Download our free guide now: https://lnkd.in/ecZv2fBD #RetirementPlanning #FinancialSecurity #PlanAhead #WealthManagement #Beesure

Autumn Budget 2024 Highlights 🚨 Chancellor Rachel Reeves' Autumn Budget outlined key changes as part of a strategy to tackle the £22 billion fiscal deficit. We’ve put together a summary and a full report to help you understand what these updates mean for your personal and business finances. 🔑 Key Announcements: - Inheritance Tax (IHT): From 2027, pensions will be included as part of a persons estate for inheritance tax (IHT). Additionally, the freeze on the IHT threshold of £325,000 per individual, initially set to end in April 2028, will now extend until April 2030. - Capital Gains Tax (CGT): Starting from 30 October 2024, Capital Gains Tax (CGT) rates will increase to 18% for basic rate taxpayers and 24% for higher rate taxpayers. The CGT rates for residential properties will remain consistent at 18% for basic rate taxpayers and 24% for higher rate taxpayers. - National Insurance (NI): Increase from 13.8% to 15%, with threshold changes from April 2025. - Minimum Wage: 6.7% rise to £12.21/hour from April 2025. To find out how these changes could impact your financial plans, or your business, read our detailed report. Stay informed and prepared. 👉 https://lnkd.in/eEA_sQpW #AutumnBudget2024 #FinancialPlanning #BeeSure

Today’s Budget brought some updates on taxes, pensions, and personal finances - but pension tax-free cash and pension tax relief remain unchanged. "The good news is, many of the rumours and concerns circulating before the Autumn Budget didn’t come to pass" says Jonathon Williams DipFA CeMAP Stay tuned for our in-depth report which will be available soon to help you navigate how these changes may impact your retirement planning, tax strategies, and overall financial health. If you have any questions in the meantime, please don't hesitate to get in touch. 📩 info@bee-sure.co.uk ☎ 0333 305 6692 #AutumnBudget2024 #FinancialPlanning #PensionUpdate

Today’s Autumn Budget delivered some announcements that impact taxes, pensions, and personal finances. Here are the key takeaways. Our in-depth report on what these changes mean for your retirement planning, tax efficiency, and overall financial health will be available very soon. #AutumnBudget2024 #CapitalGainsTax #Pensions #IncomeTax #FinancialPlanning #BeeSureUpdates

No Extension on Income Tax Threshold Freeze Chancellor Rachel Reeves announced today that income tax and National Insurance (NI) thresholds will not remain frozen beyond 2028. Here’s what that means: 🗓 Current Freeze Continues Until 2028: Since 2022, thresholds for income tax and NI have been frozen, meaning earnings that reach certain levels are taxed without adjusting for inflation or wage growth. 📈 Thresholds to be Inflation-Linked Post-2028: From 2028-29, personal tax thresholds will adjust with inflation, providing potential relief as earnings grow in line with cost-of-living increases. #Budget2024 #MinimumWageIncrease #CarersSupport #BeeSureUpdates

VAT introduced on private school fees from January 2025 #Budget2024 #MinimumWageIncrease #CarersSupport #BeeSureUpdates

Next, the chancellor turns to inheritance tax. Rachel Reeves tells the House that she understands "the strongly held desire to pass down savings to children and grandchildren", which is why she is taking "a balanced approach". The first measure is about inheritance tax thresholds - they were frozen until 2028, but they will be extended now until 2030. "That means the first £325,000 of any estate can be inherited tax-free," she says, "rising to £500,000 if the estate includes a residence passed to direct descendants, and £1m when a tax-free allowance is passed to a surviving spouse or civil partner." Secondly, the chancellor announces that they will "close the loophole created by the previous government - made even bigger when the Lifetime Allowance was abolished - by bringing inherited pensions into inheritance tax from April 2027". Lastly, they will reform Agricultural Property Relief and Business Property Relief. She tells the House: "From April 2026, the first £1m of combined business and agricultural assets will continue to attract no inheritance tax at all, but for assets over £1m, inheritance tax will apply with 50% relief, at an effective rate of 20%." "These measures raise over £2bn in the final year of the forecast," the chancellor says. #Budget2024 #MinimumWageIncrease #CarersSupport #BeeSureUpdates

Chancellor Confirms Capital Gains Tax Changes 🔹 Lower Rate: Increasing from 10% to 18% 🔹 Higher Rate: Increasing from 20% to 24% These adjustments will apply across most assets while maintaining residential property CGT rates at 18% and 24%. The government also confirmed the lifetime limit for Business Asset Disposal Relief remains at £1m. This rate will stay at 10% this year, with a rise to 14% in April 2025.