Tim Leonard

Tim Leonard

If you work for yourself, setting up your own private self-employed pension can help you plan for your retirement. Even though you won’t typically be able to benefit from matched employer contributions, the tax relief you receive is the same as if you were employed.

Tim Leonard & Richard Eagling

The pension triple lock has been suspended over concerns that it would cost the Treasury a potential 8% rise in state pension payments to retirees. While a smaller increase is still assured, the decision could have wider implications for the triple lock – and pensioners – going forward.

Tim Leonard

The chance to retire early will appeal to most, but early retirement is not to be entered into lightly. Having a guaranteed income and enough funds in reserve are the obvious foundations for retiring early, but there is much more to think about before you give up work.

Tim Leonard

Our NerdWallet survey of 2000 homeowners looks at the mortgage mistakes people have made and how clued up they were about mortgages. The study includes their thoughts on mortgages, mortgage lenders and the process of applying for a mortgage loan and buying a property.

Tim Leonard

Saving for a first home can be challenging but what if stamp duty could be scrubbed off your list of costs? Well, qualify for first-time buyer stamp duty relief and this tax on buying a new home can be avoided altogether, or at least reduced.

Tim Leonard

Your finances play a big part in whether you should rent or buy, but given the choice, what is best for you? Renting won’t tie you down, is quick to arrange and doesn’t require a big deposit, but buying means you’ll have a home to rightfully call your own that you can do with as you please.

Hannah Harper & Tim Leonard

You might not have considered a child’s pension before but, with a £2,880 yearly allowance plus tax relief, it could give your child a savings head start and a better retirement. Here, we explain how to open a child’s pension, the pros and cons, and the rules around passing on a pension to a child.

Tim Leonard

Getting a mortgage as a contractor may require you to jump through a few more hoops than if you’re employed, but don’t let this put you off. Contractor mortgages might be available if you have a certain level of stable earnings and proof that your services are in demand.

Tim Leonard

The pension lifetime allowance is the maximum you are allowed to build up in pension benefits before a lifetime allowance charge is applied. Keeping track of your pensions and using pension lifetime allowance protection can help you avoid the lifetime allowance charge.

Tim Leonard

A small self-administered scheme, or SSAS pension, can be set up by senior company executives who want to take full pension investment responsibility for themselves. The tax advantages of using a SSAS to buy and then rent back business premises is often very appealing.

Tim Leonard

Stakeholder pensions are flexible pension schemes designed to provide a way for anyone to save for their retirement. Government rules that all stakeholder pension schemes must follow mean minimum contributions are always low and fees are capped.

Tim Leonard

An AVC pension scheme could prove useful if you want to supplement payments you make into a workplace pension. AVC pensions allow flexibility when it comes to managing contributions and can help boost your future retirement benefits.

Tim Leonard

Property investment funds are a simple way to gain exposure to bricks and mortar, but rental properties and property development could be alternatives if your finances allow. Read on to learn how you could invest in property, and which option might be right for you.

Tim Leonard

Buying a home is rarely easy, but what if a shared ownership mortgage made getting a home loan more affordable? You’ll only own a share of the home at the start, and will need to pay some rent at the same time, but will have the chance to ‘staircase’ your way to full ownership if you wish.

Tim Leonard

The First Homes scheme aims to help local and key worker first-time buyers who have been priced out of buying locally onto the property ladder. The price you’ll pay for a First Homes property will be at least 30% lower than the market value, but there are a number of boxes to tick to qualify.

Hannah Harper & Tim Leonard

The government’s Rent to Buy scheme provides would-be homeowners with a way to bridge the gap between renting a property and owning one. Read on for more information about the Rent to Buy scheme, and to find out whether it could help you.

Ruth Jackson-Kirby & Tim Leonard

The triple lock protects the income that retirees receive through the state pension from inflation. Usually payments increase in line with the highest of either earnings, Consumer Prices Index inflation, or 2.5%. But for the next rise in April 2022, the earnings measure won’t be considered.

Tim Leonard

A gifted deposit is when parents or a close relative give you money towards a mortgage deposit with no strings attached. Lenders usually require a gifted deposit letter from the gifter to confirm you don’t need to pay the money back.

Ruth Jackson-Kirby & Tim Leonard

If you are not ready to retire, want to build more retirement savings, or simply don’t need to claim your pension yet, you may want to defer taking your pension. Your state pension can also be deferred in return for increased payments in the future.

Hannah Harper & Tim Leonard

In 2020 the state pension age for women increased to 66, and it’s set to rise even more over the next decade. Find out more about the increase, the Waspi women seeking compensation following the rise, and how to prepare for any future state pension age changes.

Ruth Jackson-Kirby & Tim Leonard

Buying a pension annuity with some or all of your pension pot means you can rely on a certain level of retirement income. There are different types of annuity that can provide for your loved ones after you die, pay a higher income if you’re in ill health or smoke, and keep pace with inflation.

Ruth Jackson-Kirby & Tim Leonard

Moving into pension drawdown at retirement gives you flexibility as to how you withdraw your money and enables your funds to stay invested to hopefully grow further after you retire. How pension drawdown works means retirement income decisions are firmly in your hands.

Ruth Jackson-Kirby & Tim Leonard

Pension contributions are the payments that you, your employer, and the government make into a pension, but there are caps and other considerations to bear in mind. So how much should you contribute to a pension and what does the pension annual allowance allow?

Ruth Jackson-Kirby & Tim Leonard

Pension tax relief is a government top-up to your pension contributions that aims to encourage people to save for their retirement. The amount of tax relief you can claim will depend on the income tax that you pay.

Ruth Jackson-Kirby & Tim Leonard

A self-invested personal pension (SIPP) gives you more control over your retirement savings, enabling you to make your own investment decisions. Contributions into a SIPP are eligible for tax relief and existing pensions can be transferred into a SIPP too.

Ruth Jackson-Kirby & Tim Leonard

A personal pension is a private pension that you can set up for yourself, outside any workplace scheme. Open a personal pension plan and your contributions could be boosted by tax relief too.

Tim Leonard

Most homeowners would like to pay off their mortgage early, but is it always the right thing to do? Here’s how to find out if you should overpay, along with six ways you could secure mortgage freedom much faster.