Call Richard Cook: 07770 575 122

email: richard@theinvestmentandretirementcoach.co.uk

New threat to higher rate tax relief on pension contributions

chancelloroftheexchequerYes, I know this isn’t new and I have written about this prior to previous Autumn Statements and Spring Budgets but it just will not go away.

With just a few weeks before the new Chancellor delivers his Autumn Statement, on 23rd November, rumours of threats to higher rate tax relief have resurfaced. Predicting changes is, of course, nothing more than crystal ball gazing but that doesn’t mean we should ignore the threat and do nothing.

I am not a regulated adviser so nothing I say should be treated as personal advice but here is some general guidance.

If you are a higher rate tax payer making regular contributions, and have the cash available, think seriously about bringing forward those contributions (subject to not exceeding the annual contribution allowances).

Provided all the contributions qualify for higher rate tax relief what do you have to lose?

It is inconceivable that tax relief will increase in future and pretty inevitable that reductions are on the way, even if not in this Autumn Statement.

If you are over age 55 you can use the new “pension flexibility” to wipe out your entire higher rate tax liability for the current tax year with some careful planning. Listen to what I had to say about this in a previous video blog below.

Don’t delay. Talk to your adviser today. If you don’t have one or would like some general guidance just text me on 07770575122 with “pension tax relief” in the headline. If your adviser wants to charge you a big fee or says there is not enough time don’t despair I can help you use one of the online services if you give me a ring.


This document and our on going services are not personal advice. We'll give you all the help and guidance you need to make your investment and retirement decisions, but we can't advise you. If you're not sure whether you need regulated financial advice we can put you in touch with a suitably qualified and experienced regulated adviser. Because we are not regulated by the Financial Conduct Authority you will not have access to the Financial Ombudsman Service in respect of any complaints. If you use one of the "no advice" on line services to handle investment transactions they will be Regulated and you will have access to the Ombudsman and The Financial Compensation Scheme in respect of their services. The value of investments/pension plans can fall or rise depending on market performance. The Retirement Team and The Investment and Retirement Coach are trading names of Capture Success Ltd Reg No 01825075 Tel 07770575122

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