Pension contributions

Making a contribution into a pension is still one of the most tax efficient investments you can make. As well as growing in a tax efficient way, pension contributions can be used to reduce your current income tax liability. If you own and run a limited company, then your company could make an employer contribution to reduce its corporation tax bill.

At retirement you will be entitled to up to 25% as a tax free lump sum and the remaining   funds are used to generate a taxable income. The rules relating to pensions and retirement planning can be complicated and not suitable for everyone. We recommend you seek advice on this subject.

These are just a few of the financial advice tips for 2016/17. If you want to talk in more depth please contact us.

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