Pension contributions
For those of you interesting in pension contributions, just a reminder that the annual limit is £50,000 subject to any unused relief carried forward. Company contributions will attract corporation tax relief – so a £10,000 contribution in the financial year will save £2,000 corporation tax at 20%. Personal contributions will be topped up by 20% from HMRC, and you can reclaim a further 20% if you are a higher rate tax payer. So, a £10,000 contribution will attract £5,000 of tax relief. If you’d like me to introduce you to an Independent Financial Adviser, please give me a call.