Money Minder UK

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Tax savvy

In Brief: Tax savvy

Monday, 13 April 2020

After the pension reforms in 2015 there is greater flexibility to choose how you take money from your pension. There are many ways in which you could choose to use your pension money. Research from YouGov suggests that investing in a buy-to-let property is a popular option. Taxes on this can be sizeable a saver have to pay Income Tax on any pension withdrawal and other costs such as stamp duty, solicitors fees and maintenance bills.

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