Recent studies have highlighted that many high rate taxpayers are not claiming their full tax relief on pension payments. While personal pension payments automatically gain a 20% tax top up through claims made by the provider, the additional 20% relief available to high rate taxpayers must be claimed through their personal tax return. Often accountants and book keepers are not informed about pension plans or details of the pension payments are not recorded on the tax return. If you pay high rate tax and contribute to a personal pension plan then check your tax return to ensure you are recording all your pension payments and claiming your full relief. You could be missing out!
Following a career in industry, 10 years ago I chose to specialise in wealth management and am an Associate Partner of the prestigious St. James's Place Partnership. My clients are predominantly…
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