If you or your spouse/partner has an income between £50,000 and £60,000, your child benefit is clawed back at the rate of 1% for every £100, and for those earning above this, the claw back equals the whole amount of the benefit received. By making additional pension contributions, you could retain child benefits. For example, … Continue reading How Pension Planning Can Help Retain Child Benefit And Save Inheritance Tax
CODE NUMBERS Check your code to ensure you have been given the correct personal allowances, including relief for pension contributions and gift aid donations if liable to higher rate tax. PENSIONS With a general election a few weeks away it cannot be certain that the current generous reliefs will remain in place. It is important … Continue reading Year End Tax Planning – Points for review before 5 April!