Tax and your pension

Article Abstract:

One is entitled to get tax relief on private pension contributions and there are many plans that give pension proceeds as a tax-free lump sum amount. Different pension schemes that give pensioners income after retirement are presented and how to file returns after retirement is described.

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National Insurance

Article Abstract:

National Insurance Contributions (NICs) are linked to contributory benefits that involve some social security benefits including the state pension. Employees pay a percentage of savings as NIC on virtually all sorts of pay such as wages, salaries, and commission among other income types.

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Fringe benefits

Article Abstract:

Fringe benefits also known as benefits in kind or perks are broadly non-cash items that one receives on top of their salary. Tax rules for common types of fringe benefits are featured.

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