• Adviceworks Limited
  • 52a High Street
  • Redbourn
  • Hertfordshire
  • AL3 7LN
  • Tel: 01582 799087
  • Fax: 01582 799088

Don't let the taxman break into your savings

ISA's can be an ideal way to shelter your savings from personal taxation.  But you only have until 5th April to secure your ISA for this tax year.

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Contact us for advice on your ISA options 

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Please note: 

Levels, bases, and reliefs from taxation are subject to change. 

The value of your investment and any income from it may go down as well as up and you may not get back the full amount invested.

 

Income Drawdown

Income Drawdown also known as pension drawdown is an option that allows you to take a taxable income directly from the pension fund, without buying an annuity.

The plus points

· This would suit people entering retirement when annuity rates are especially low. Your fund remains invested and you take money directly out of the fund, using it as income.
· There is no minimum amount, which makes Income Drawdown reasonably flexible. If you don’t need the income, you can stop withdrawing it at any time.

The pitfalls

· The risk is that your income could be much lower in later years than it otherwise would have been. Success depends on strong investment growth and interest rates not moving in the wrong direction.
· There are limits to how much income you take in this way. From 6 April 2011, the maximum is equivalent to 100% of the income you would get from a standard annuity.

 

Short-term annuities

Phased retirement

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