If you are a higher rate tax payer and a current pension scheme member this blog is for you.
July 8th is the important date. That is the date of the first budget of the new Conservative government.
Why it is important to you is that if they deliver on their manifesto promises pension tax relief will be restricted for those earning over £150,000.
My concern is that once the principle of restricting higher rate pension tax relief is accepted where will it stop?
So even if you are not earning £150,000 but are a higher rate tax payer you may like to think about bringing forward pension contributions to before 8th July so that you can be absolutely sure you will get that higher rate tax relief. Talk to your adviser today or complete the box on the right to book a free telephone conversation with me.
All higher rate tax payers need to be taking pension provision seriously. The new “pension freedoms” produce both big opportunities and big dangers for higher rate tax payers. If your adviser is not talking to you already why not? You really do need to book a free telephone conversation with me to find out whether you are a winner or loser.
And don’t forget to sign up for blog updates in the box below. The next one could be even more important. There is no risk and the opportunity to learn enough to drive a discussion forward with your current adviser if you don’t want to engage with me.
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