K
karaoke king
Guest
I am lucky enough that I have the option of cashing in the 25 per cent tax free element of my company pension plan when I reach 50 which is only 3 years away. To do this I will have to dispose of the shares I hold in the company. The company has reached its sell by date at this stage and I don't consider it will be viable in 3 years time anywayThe plan then would be (a)to start up and run a small business on my own using some of the pension proceeds or (b) get a job and work away whilst still having access to the pension proceeds as back up until I get something set up. What are the tax implications for any extra income I earn whilst carrying out either option ? Can anyone pick any constructive holes in this idea. ? Thanks in advance.