Pension contributions planning is an integral part of tax planning, ensuring that you are well-prepared for a comfortable retirement. We provide comprehensive advisory services to guide you in making strategic decisions about your pension contributions, optimising tax-efficiency while planning for your future.
The annual allowance is the maximum amount that you can contribute to your pension each year while still receiving tax relief. Our team will help you maximise your contributions while remaining within this limit to optimise tax benefits.
If you do not use all your annual allowance in a given year, you may be able to ‘carry forward’ the unused portion to increase your allowance in future years. We can guide you on when and how to use this facility.
This is the maximum amount you can accumulate in your pension over your lifetime while still receiving tax relief. Our advisors will help you plan your contributions to manage this limit effectively.
By giving up part of your salary in exchange for increased employer pension contributions, you may be able to achieve greater tax and national insurance savings. We will assist you in evaluating whether this could be a beneficial strategy for you.
1. A Small Self-Administered Scheme (SSAS) is a type of defined contribution pension scheme available in the UK. It is established under trust by a sponsoring employer, typically for a small number of directors or senior employees.
2. SSAS can purchase commercial property, which can provide a tax efficient means of buying a premises for your business. The rental income paid by the business to the SSAS will be tax deductible for the business and tax free for the SSAS.
3. Please note that tax laws are complex and subject to change, so it’s important to seek advice from a tax or financial advisor before making decisions based on tax considerations. Also, tax advantages will depend on personal circumstances.
Why work with us?
At UK Tax Advice and Accountancy, we believe in providing personalised, strategic advice tailored to your unique circumstances and goals. Retirement planning can be a complex process, with tax laws and pension regulations subject to frequent change. This is where our expertise can bring clarity, direction and peace of mind, helping you navigate these complexities.
Your future starts today. Make the most of it with UK Tax Advice and Accountancy. With our commitment to excellence, proactive approach, and depth of experience, we’ll work with you to build a robust, tax-efficient pension plan.
