The Conservative Party have now joined the other major parties in announcing plans to curb pension tax relief for higher rate tax payers.
Time is limited. If the last general election is anything to go by we can expect an emergency budget before the end of June when the proposals could become law.
You could risk losing thousands (or even tens of thousands) of tax relief by not reading on.
The tax allowable contributions are huge. Up to a one off payment of £160,000 if you have not paid any pension contributions in the last three years. That’s £64,000 of tax relief down the drain if you don’t take action. Even a contribution of £10,000 saves £4,000 in tax.
If your Adviser is talking to you about this well done — look no further. If he isn’t he surely doesn’t deserve his fee/commission.
My preliminary guidance is free. Just book a telephone call by clicking in the box on the right or if you are really keen pick up the phone and dial 07770 575122. It will only take a quick telephone conversation to decide if this is worth exploring in more detail.
My recent blog about wiping out your entire higher rate tax liability written before this latest announcement is worth reading.
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