Friday, May 01, 2009

Tax Relief on Pensions: Budget 2009

One of the big areas you can save money on income tax is by putting the money into a pension rather than taking it as salary. Currently you could save up to 40p tax for every £1 in salary.

For people earning over £150 000. This will be reduced over the next few years from 40% to 20% tax relief.

Pensions experts are already devising ways round this....

Posted by Sean Wilson, APFS, Independent Financial Advisers (IFA), Swindon, Wiltshire.

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