How do I get my pension in cash

atush

That said, it is entirely possible that getting advice will save the OP money. What he wants to do is not tax efficient. The OP said they dont need the money. So, why take it out of the pension? Advice would cover things like that. The advice could save £18k income tax amongst other things. It may save IHT too. So, £3600 is cheap in comparison. (and with a bit of shopping around, could be cheaper)

eo, this is what I saud a number of posts ago.

If they dont need the money, they are wasting it by paying tax on it if they dont need to.

dunstonh

What's professional? No Matter ... 18x is still a factor you have to counter?

If you cant tell the difference between turnover and income then it wouldnt matter what I say.

atush

Amolad wrote: »

Is it me ... or are IFA's always trying to justify costs/liability rather than service?

No it isnt just you- there are a few other ifA bashers plus others like yourself who dont understand the business and the life long risk involved.

I myself am not using one currently. Doesnt mean i dont understand what they do, and when they will be helpful to me.

atush

dunstonh wrote: »

If you cant tell the difference between turnover and income then it wouldnt matter what I say.

Try running a business using that sort of knowledge/misinformation- they'd be bankrupt by the end of the first month.

Amolad

What's professional? No Matter ... 18x is still a factor you have to counter?

If you cant tell the difference between turnover and income then it wouldnt matter what I say.


That's just plain arrogant ...

atush

Nope, just plain factual.

Amolad

Nope, just plain factual


Sorry Atush ... I bin writing financial control systems for 30+ years ... Turnover EQUALS Income


Be Good ... Amolad

dunstonh

Amolad wrote: »

Nope, just plain factual


Sorry Atush ... I bin writing financial control systems for 30+ years ... Turnover EQUALS Income


Be Good ... Amolad

No it doesnt. Perhaps your systems should be in the "bin".

Turnover is what the business receives in income with no deductions for costs. However, in post #18 you made it clear you were referring to earned income.

Amolad

No it doesnt. Perhaps your systems should be in the "bin".

Turnover is what the business receives in income with no deductions for costs. However, in post #18 you made it clear you were referring to earned income.


That maybe so (tho' it's a tad rude of you to say so) ... but it all depends on terminology ... check out company accounts..

Dark_Sunday

dunstonh wrote: »

You may not be sure but you are wrong. There is no long stop applied to advice. You can complain about something an adviser did 40 years later if you wanted and they would have to consider the complaint if they were a self employed/partner adviser. There have been cases where spouses of deceased advisers have been chased.

There has been no deregulation in recent years.

Sorry what I meant was I'm not sure IFAs should be liable. My view is its up to the individual to take responsibility & decide what to do with their funds.