12 Days To Protect Pension Tax Relief ?

12 Days To Protect Pension Tax Relief ?

You will have seen the seemingly endless press commentary as to what the Chancellor may announce on Budget Day. Many possible outcomes have been surmised.

What is almost certain is that for around 4 million* higher and additional rate taxpayers, the levels of tax relief on future pension savings will not be as attractive as they are currently.

To be certain of securing current levels of tax relief the only course of action is to ensure anyone wishing to make a lump sum contribution this tax year (either personally or through their business) do so by 15 March 2016 – the day before Budget day.

That’s only 12 days to ensure that the contribution and any associated paperwork is completed and with the provider.

Please contact TM Asset Management on 0116 2542255 / 07885 593175 or email matt@tmam.co.uk for advice.

This blog is for information only and is not legally binding or intended to replace independent financial advice from a Chartered Financial Planner.

*estimated number of higher rate and additional rate taxpayers in the UK. Source – HMRC Survey of pension incomes – updated table February 2014 – number of higher and additional rate taxpayers.