Pensions and divorce — planning for the future in three key points

Making a fresh start in the new tax year

clock • 3 min read

Bethany Joslyn looks at the tax planning landscape with a lens on divorcing couples…

The new tax year brings new opportunities for pension savers. With the abolition of the lifetime allowance (LTA) from April 2024 and a raft of generous measures in the meantime, the future is looking brighter for many. One group to focus on is those who have or are soon-to-be, divorced. The breakdown of a relationship is always difficult and deciding how to share assets is often contentious. Here are three key points to think about when guiding your clients through the tricky process of splitting their finances in the 2023/24 tax year and beyond. Fund split matters Pension sh...

To continue reading this article...

Join Professional Adviser

  • Unlimited access to real-time news, industry insights and market intelligence.
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters.
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection.
  • Members-only access to the editor’s weekly Friday commentary
  • 
 Be the first to hear about our events and awards programmes.

Join

 

Already a Professional Adviser member?

Login

More on Tax planning

Canada Life links with Zedra to launch trust service

Canada Life links with Zedra to launch trust service

Service to ‘relieve the onerous requirements for advisers’

Jenna Brown
clock 23 May 2023 • 1 min read
Discounting the discount: Discounted gift trusts explained

Discounting the discount: Discounted gift trusts explained

Trusts help planners reduce or eliminate their clients' IHT liabilites

Barrie Dawson
clock 23 May 2023 • 4 min read
Rising IHT receipts should be 'wake-up call' to take tax advice

Rising IHT receipts should be 'wake-up call' to take tax advice

‘More good news for the Treasury’ as April nets £0.6bn

Jenna Brown
clock 23 May 2023 • 2 min read