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The Ultimate Retirement Jargon Buster

Don’t let confusing terms hold you back — here’s what it all really means.

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At Joslin Rhodes, We Speak Your Language

Retirement planning shouldn’t feel like learning a new language. Yet, when it comes to Pensions, Estate planning, Equity Release and taxes, the jargon can make things confusing.

We’re here to change that. This straight-talking guide explains key terms in plain English, so you can feel confident in your knowledge – and your future.

Income Tax Allowance

The amount of income you can earn before paying tax. This changes yearly and affects how much tax you pay on pensions, investments, and wages.

Tax-Efficient Investments

Investments like ISAs, pensions, and certain trusts that help reduce tax liabilities.

Chargeable Lifetime Transfers

Gifts into certain trusts that could be taxed if they exceed inheritance tax thresholds.

Personal Savings Allowance

The amount of interest you can earn from savings without paying tax (varies based on your tax band).

Capital Gains Tax

A tax on profits when you sell investments, property, or other assets. Some exemptions and allowances can help reduce this.

Inheritance Tax

A tax on estates over a certain value. Good estate planning can reduce or eliminate this tax.

Residence Nil-Rate Band

An extra tax-free allowance when passing your home to direct descendants.

Gift Allowance

The amount you can give away each year without it being counted towards inheritance tax

Gift Allowance

The amount you can give away each year without it being counted towards inheritance tax.

Pension Tax Relief

A government top-up on your pension contributions based on your income tax rate.

Tax-Free Lump Sum

When taking a pension, you can usually withdraw 25% tax-free, with the rest taxed as income.

Dividend Allowance

The amount of dividend income you can receive tax-free from shares or investments.

Trusts for Tax Planning

Trusts can help reduce tax liabilities by passing assets to beneficiaries in a tax-efficient way.

Lump Sum Allowance

The maximum amount you can usually take tax-free from your pensions.

Personal Allowance

The amount of income you can earn before paying tax. This changes yearly and affects how much tax you pay on pensions, investments, and wages.

How We Can Help You Make Sense of it All

Got questions? We’re happy to help. Get in touch today and let’s make your financial future secure—together.

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