Given recent legislative changes to Pension funding your overall Pension pot can be subject to tax penalties (NHS & Private) if you breach the Lifetime allowance of £1.25M. In addition we have also seen the Government reducing the annual contribution to £40,000. These new changes are affecting a number of NHS Professionals.
If these rules are affecting your Pension funds then there may be alternative tax effective alternatives to complement your existing Pension provisions. The more traditional routes of tax effective Pension provision are being questioned. Perhaps now is a prudent time to re-appraise these more traditional routes as there are alternative methods to maximise tax efficiency.
If you do feel that our services may be of help, please do contact us – We look forward to hearing from you.
The levels and bases of taxation and reliefs from taxation can change at any time. The value of any tax relief depends on individual circumstances.
If you would like to speak to us about a particular issue or wish to find out more about the services we offer, please get in touch.