How higher earners can use pension contributions to reduce tax bills
The cut to the additional rate threshold for income tax may make pension contributions even more attractive for those with large salaries.
Start the tax year on the front foot
The earlier you plan, the greater your choices and the more potential there is to maximise your financial efficiencies and make tax savings. Here we provide an overview of key factors to consider in the 2023/ 24 tax year.
Spring Budget: Take advantage of generous tax breaks for pensions
The Spring Budget included a number of valuable breaks and benefits for high earners, retirees, and savers with large pension pots. But what were the tax changes, and how can you utilise them properly?
Weigh up your options carefully if you receive a large lump sum
A large windfall may mean greater financial freedom, as well as responsibility. Savings rates have failed to keep up with inflation, reducing the appeal of cash. How can you make the most of your money and available tax breaks?
Use or lose your annual allowances
A number of valuable, tax-efficient allowances operate on a ‘use it or lose it basis’ in each tax year. Find out which allowances you should be optimising ahead of 5 April.
Make tax savings by using pension contributions to extract company profits
Using company profits to make pension contributions can help business owners move money from a company account to their own accounts, while saving on corporation tax.
Five tips to save tax and optimise your finances
We highlight five financial tips for 2023 (and beyond), including maximising pension plan contributions, using your ISA annual allowance, and the benefits of partnering up with a professional firm on your retirement journey.
Job-changers: What room for improvement does your pension have?
Take stock: Assess your life insurance provisions and retirement planning. Is your workplace pension(s) the best place to invest a lifetime’s earnings?
Reduce IHT bills with an equity release and gifting strategy
Many families have a substantial amount of cash tied up in the family home, which could limit your estate planning options and ability to effectively mitigate inheritance tax charges.
Unlock cash trapped in your home with a lifetime mortgage
Equity release frees up tax-free cash that’s tied up in your property, while you continue to live in your home. Read on to find out if this could be the right option for you.
