It will only take a brief telephone call to find out. This is not tax avoidance. It is well within HMRC rules and perfectly legal.
Unfortunately it is not for everyone. For this to work you should be:-
- Aged between 55 and 75
- Paying higher rate tax on earned income or dividends from your business
- Expect to revert to basic rate tax by the time you choose to cash in
- Have some accessible medium/long term savings/investments
If you pay higher rate tax on £50,000 and invest your net pay at 4% per annum after 3 years you will be left with £33,818. Fit the criteria above and you will be left with £48,500.
That’s a staggering £14,682 better off. Even if you are still a 40% tax payer you will be considerably better off.
It is just not possible to provide all the technical details in a blog such as this. Time is of the essence as the arrangement has to be in place by 5th April 2018 to qualify for relief in the current tax year.
The starting point is a 10-minute telephone conversation with me, Richard, on 07770 575122.
What do you have to lose other than 10 minutes of your time?
This may not be for you, but you have worked hard for your money. Paying unnecessary tax without exploring the alternatives doesn’t seem to be a good plan to me.
So, come on, let’s have a conversation and quickly decide whether this is something you would like to explore in more detail.
PS.If you are in any way interested in what I have to say, please sign up for blog updates below – normally about every two weeks.
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