Following last week’s blog post on Financial Planning – Current Hot Topics, here are a few more tax efficient strategies to consider in the run up to the Budget.
Pension lifetime allowance In an unexpected announcement, the maximum value of pension wealth which can be accumulated without incurring a 55% tax charge is to be reduced from £1.25 million to £1 million with effect from April 2016.
Our 12 Quick Tax Tips Don’t waste your (or your partner’s) £9,440 personal allowance. Watch your tax band – the number of higher rate taxpayers is growing. Don’t ignore national insurance contributions –they are really a tax at up to 25.8%. Think marginal tax rates – the system now creates 60% (and higher) marginal rates. […]