Bernard is a Chartered Financial Planner and Fellow of the Sales & Marketing Management Institute.

Keyman Insurance & Shareholder Protection Insurance
Group Personal Pension Plans (GPPP)
Inheritance Tax Advice (IHT)
Retirement Planning
Income Drawdown

Pension Transfer

Retirement Planning

Income Drawdown

SIPP

QROPS

Originally from Poland, Monika has an MSc in Economics and is currently studying for her ACCA qualifications.

Statutory financial statements
Abbreviated financial statements
Management accounts
VAT advice
Corporation Tax Computation
Corporation Tax Return
Bookkeeping

The Telegraph questioned ‘Is property better than a pension for your retirement nest egg?’ (30th Jan).

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ISAs and property investment may not offer the same levels of tax relief that pensions do, but many Britons are seeking new ways of securing their retirement nest-egg.

Experts are divided as to which is the best way to save for your retirement. Pensions, property investment and ISAs all have their advantages, and which is right for you will, to a large extent, depend on your age, your attitude to risk and your current income levels.

Pensions saving seems to be going out of fashion as only 38% of people put money into plans in 2009/10, the lowest level for a decade. Volatile stock markets and a decline in annuity rates are largely to blame for the decline.

Meanwhile, the buy-to-let property market is booming, compared with many other investment options. The credit crunch may have crippled the sector in 2008 and 2009, but all the latest statistics paint a much rosier picture, and according to the Council of Mortgage Lenders, the number of landlords being offered buy-to-let mortgages was up by 16% in the third quarter of 2011.  Rising rents and low interest rates make property investment an attractive proposition.

If the idea of locking your cash away in a pension with no access is an issue, then ISAs are another popular alternative saving option, offering the ability to put aside up to £10,680 a year tax-efficiently – where withdrawals can be made at any time, not only after the age of 55. (Please note the ISA allowance will soon be increasing to £11,280).

However, it is important to remember that with pensions, you normally have two key reasons to invest – tax relief and employer contributions.  Tax relief is granted at your marginal rate, which means higher rate taxpayers can get take the greatest advantage from them.  And if employers match or contribute significantly to your plan, then it is clearly a winning choice.  The investment allowances are also far more generous than they are for ISAs – currently £50,000 per year or £1.5 over a lifetime (as of April 6 this year).

For high net worth individuals, a combination of all of the above investment options may be desirable.  To find out more about your choices, the risks involved and the benefits, please contact your PK Group Adviser today for some impartial advice.  If you have not dealt with us before, please contact our switchboard and one of our specialist advisers will be happy to assist.

Every year, the government sets new guidelines for sponsored tax mitigation schemes, including ISAs, Venture Capital Trusts (VCT) and Enterprise Investment Schemes (EIS). Following is a brief summary of some of the key products which you may wish to consider when looking to maximise your tax-free investment opportunities.

Individual Savings Accounts (ISAs)

ISAs are free of income tax and capital gains tax. There are maximum investment limits which apply for each tax year (currently £10,680 per person for 2011/12). However, your investment could build steadily over several years. An ISA can be taken in stocks and shares or cash.

Venture Capital Trusts (VCT)

VCTs involve investing in unquoted trading companies. Investors will potentially be exempt from tax on dividends and on any capital gain arising from disposal of the shares in the VCT. It is possible to subscribe to shares up to a value of £200,000 with a tax relief rate of 30%, provided the shares are held for at least five years.

Enterprise Investment Scheme (EIS)

EISs incorporate equity investments in unquoted trading companies. There have been changes to the EIS that make it more attractive as a tax saver. Companies may now obtain 30% tax relief on their investment (up from 20%), and the annual investor limit has doubled to £1 million.

As attractive and prudent as these products are, it is important to receive specialist advice. EIS, for example, is a complex scheme and investment opportunities for investors with a speculative attitude to investment risk must be carefully assessed.

Please get in touch today with one of PK Group’s specialist tax advisors to find out more about making the most of your tax-free investment opportunities.

Assets such as stocks and shares and commercial property can be used to make a pension contribution and will enjoy the same level of tax relief as making ordinary cash contributions.

There are inevitably some limitations imposed by HMRC, so assets such as your favourite classic car, yacht, holiday home, vintage wine or work of art cannot be held by a pension plan as an investment.

The transfer of value must be done on a ‘commercial basis’ so the pension plan cannot take on board an asset at either an inflated cost or at a discounted price.

Any transfer of assets will still count towards the Annual Allowance that we all have for making pension contributions in any one year.

The transfer of any asset is considered by HMRC as a ‘disposal’ , which may have tax-related implications.  You are therefore strongly recommended to take specialist tax planning advice on this matter.

PK Group can offer a consultation to discuss whether or not this approach could work for you and to ensure that you maximise the effectiveness of your pension investments and tax planning.  If you would like to find out more about ‘cashless pension contributions, then please call one of PK Group’s advisors today.

Dale additionally provides compliance services to other IFA firms.

Her responsibilities include the preparation of accounts for a wide range of clients, including small and medium sized companies and high net worth individuals. She also provides corporation tax advice and support to her corporate clients and manages a number of auditing projects.

The ideal candidate will have a minimum of 2 years’ IFA experience, hold the FPC and ideally be working towards Diploma level. The salary and bonus we are offering will be dependent on experience and qualifications.

If you would like to find out more about this position and become part of one of South West London’s leading firms, where entrepreneurial spirit and a hands-on approach are both valued and rewarded, then please forward your CV to Dale Thornley – dale.thornley@alifa.org.uk