Tax Return Due Date 31st January 2018
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The lifetime allowance for pensions falls

Harish Verma

The lifetime allowance for pensions falls

The total amount that can be invested in an individual’s pension pot has been cut from £1.25m to £1m.

On investments above that amount the government will charge tax at 25%, or at 55% if the additional money is withdrawn as a lump sum.

Public sector professionals such as doctors, senior civil servants and university professors in line for pensions worth more than £43,000 a year face a steep increase in tax bills in 2016.

Could you  breach the limits.

Do you have a Tax Plan, to stop breaching the limit?

if you have already reached the limit of £1m, what can you do?

We can help you plan your tax and save tax

 

www.takingaccount.co.uk



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