How to make pension contributions to lower your tax bill
Top-rate payer? You can save 60.8pc If you use salary sacrifice, your employer might decide to pass on the savings it makes in National Insurance to you via your pension. Additional rate taxpayers would save 45pc in tax, plus 2pc in National Insurance. If the employer passes on its own 13.8pc in National Insurance, this […]
How to beat the pension age rise to 57
She said: “The rules are complicated, but generally to keep a protected pension age the pension saver has to transfer from the scheme at the same time as at least one other member, to the same pension scheme. So, if they transfer on their own they will lose the protected age. “Because protection is lost […]
Paying your dues in the UK: How to save money on taxes
Schemes such as the Married Couple’s Allowance and pension tax relief could help UK taxpayers save money. ADVERTISEMENT While taxes may be an inevitable, if somewhat tedious part of our lives, nobody wants to be paying more than necessary. Although the UK has relatively lower tax than several European countries, with the cost of living […]
How to choose your ‘pot for life’ pension
Workers saving for retirement may no longer need to worry about losing touch with multiple workplace pension pots, thanks to a new proposal outlined by Chancellor Jeremy Hunt on Wednesday. In the Autumn Statement, Mr Hunt has introduced a new “pot for life” system, which would mean employees could be given a legal right to […]