It’s the end of another tax year! With that in mind we thought it would be a good time to remind you of the how pension contributions are a very tax efficient way of saving for your future. What’s more, the changes announced in this year’s Budget have created more flexibility than ever. Here’s a quick recap of the current position
• There is still time to make pension contributions to reduce your personal or corporation tax for 2013/14.
• The government reduces the annual amount you can contribute from £50,000 to £40,000 pa from 6th April.
• It is possible to use any unused annual allowances from the previous three years.
• New legislation will allow you to access your pension savings in retirement in a way that suits you.
The key to a successful pension is regular review and maintenance. To find out more and to create or review your retirement planning, call us at FD Financial Planning for an appointment on 01772 883881.
Simon Crompton our Financial Advisor, will be in our office on Friday mornings for advice and appointments. Clients can drop in, telephone or make an appointment to see Simon.
FD Financial Planning is a trading style of Cheetham Jackson JV LLP who is an appointed representative of Cheetham Jackson Ltd who are authorised and regulated by the Financial Conduct Authority (FCA).