Hi:-
I'm a sole trader, and a significant proportion of my earnings are tax emempt under the artists' exemption, so my annual tax bill is very low.
Until last year I was channeling all my savings into buying a house, and now that that has happened, I want to focus on retirement savings.
I have, however, been told by a couple of brokers that it is not efficient for me to invest in a pension, as its main advantage would be its tax efficiency, which does not apply in my situation. They have advised a long term retirement savings strategy instead.
Would anyone care to comment on whether this is good advice?
Thanks!
I'm a sole trader, and a significant proportion of my earnings are tax emempt under the artists' exemption, so my annual tax bill is very low.
Until last year I was channeling all my savings into buying a house, and now that that has happened, I want to focus on retirement savings.
I have, however, been told by a couple of brokers that it is not efficient for me to invest in a pension, as its main advantage would be its tax efficiency, which does not apply in my situation. They have advised a long term retirement savings strategy instead.
Would anyone care to comment on whether this is good advice?
Thanks!