Pension Relief for High Earners

23 March 2012

The Chancellor's announcement that he is to cut the upper rate of income tax to 45% from April 2013 presents a window of opportunity for high earners to benefit from 50% tax relief on their pension contributions.

In a double boost for those earning over £150,000, the rate cut was accompanied by the welcome news that tax relief on pension contributions was to remain unchanged.

 The delay to the introduction of the new 45% rate allows time to take advice on maximising pension tax.  If you wish to discuss this further contact Sam Park sam@dalypark.com