PENSION FUNDING
Payments into an approved pension scheme attract tax relief at your highest rate of tax and are deemed to be paid net of basic rate tax.
From 2011/12, the annual limit on tax-relieved pension savings has been reduced from £255,000 to £50,000. However, for contributions within the limit, relief is still given at the taxpayer's marginal rate of tax, meaning that pension contributions still remain tax-effective for higher and additional rate tax payers.
Please contact Mike Holdstock or Paul Train on 01482 504114 to see how we can help you.
