Tax Pension Relief

Tax Pension Relief

FT Adviser reports “figures released by HM Revenue & Customs (HMRC) show a forecast of income tax pension relief of £24.1bn, which adds to £16.9bn for a national insurance exemption on pension contributions from employers.

Currently, employers have to make a minimum 1 per cent contribution to their employees’ pension, under auto-enrolment rules. These payments are exempted from paying national insurance under legislation published in 2006.

The cost with tax relief is expected to increase even further in the next few years, as the government plans to increase minimum auto-enrolment contributions, scrap the earnings band and lower the age threshold to 18-years-old.”  Read the full article here  

 

shadow

About Us

We are a firm of highly experienced independent financial advisers based in Leamington Spa. Our core values are simple - integrity and professionalism - and have seen our business grow mainly through customer referrals and reputation.

Latest News

Get in Touch

Beaufort Wealth Management Ltd,
7B Tournament Court,
Tournament Field
Warwick,
Warwickshire,
CV34 6LG
01926 460156

Beaufort Wealth Management Limited is an appointed representative of The Tavistock Partnership Ltd, which is authorised and regulated by the Financial Conduct Authority. FCA No: 469862. Decisions should not be taken based solely on the content of the website and individual advice should be sought first. Regulations, levels and bases of taxation are subject to change and individual circumstances. The information contained in this website is subject to UK regulatory regime and is therefore restricted to consumers based in the UK. No responsibility is accepted for the accuracy or content of external websites.

Content