In Focus: Tax  

How your retired clients can live tax-free each year

  • To be able to explain how to use pension income tax-effectively.
  • To be able to grasp how various investments can work together to minimise tax.
  • To be able to explain tax planning as part of pension planning post-retirement.
CPD
Approx.50min
How to give retired clients a yearly tax-free income
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Nobody loves to pay tax, although most of us understand it is essential to pay for much-needed services.

But when one enters one's retirement, paying close attention to every penny becomes perhaps more important than ever.

Pensions specialists have claimed clients can live on an income between £30,000 and £33,500 a year by following careful tax planning when it comes to retirement. 

Using a diverse set of investment products and taking various assets into consideration, alongside a robust financial plan, it can be possible for a client with a moderately decent amount of assets to live without handing money over to HM Revenue & Customs unnecessarily.

This feature, which qualifies for an approximate 50 minutes' worth of structured CPD, will outline the various technical measures that can be employed when crafting a robust retirement plan. 

To read the full feature and the case studies, click on the image above. The questions are below.

simoney.kyriakou@ft.com

CPD
Approx.50min

Please answer the six multiple choice questions below in order to bank your CPD. Multiple attempts are available until all questions are correctly answered.

  1. According to Devlin, tax planning is for...

  2. What is one of the most tax-efficient things someone can do at retirement, according to Stevens?

  3. What is one of the most under-used assets when it comes to generating income or capital, says Tully?

  4. When it is impossible to avoid the lifetime allowance tax charge, what does Stevens says will be important?

  5. What do plans need to have built in, according to Devlin?

  6. According to Griffin, what should not be the only driver when it comes to choosing investments?

Nearly There…

You have successfully answered all the questions correctly, well done!

You should now know…

  • To be able to explain how to use pension income tax-effectively.
  • To be able to grasp how various investments can work together to minimise tax.
  • To be able to explain tax planning as part of pension planning post-retirement.

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