David Booth - BA, DipPFS, Cert CII (MP)’s Post

Five pension considerations for directors and executives - The more you earn, the more you stand to gain by taking full advantage of the tax reliefs and allowances available to you. Seeking expert financial advice can help you make sure your money is working as hard for you as possible. - 2023 saw the removal of the lifetime allowance penal tax charges, but from April 2024 the lifetime allowance is being abolished and replaced by allowances that restrict only tax-free lump sums paid. - 2023 also saw the increase in the pension annual allowance, to £60,000 which may offer additional saving options. #sjpinsights #financialplanning #financialwellbeing #mercianwealthmanagement #MWM #retirementplanning

5 pension considerations for Directors & Executives 1 - Pension Allowances 2 - The pension annual allowance and tapered annual allowance 3 - If you're not just paid in cash... 4 - Do not forget ISA's 5 - Accessing your funds in retirement #sjpinsights #financialplanning #financialwellbeing #mercianwealthmanagement #MWM #retirementplanning

Five pension considerations for directors and executives > The more you earn, the more you stand to gain by taking full advantage of the tax reliefs and allowances available to you. > Seeking expert financial advice can help you make sure your money is working as hard for you as possible. > 2023 saw the removal the lifetime allowance penal tax charges, but from April 2024 the lifetime allowance is being abolished and replaced by allowances that restrict only tax-free lump sums paid. > 2023 also saw the increase in the pension annual allowance, to £60,000, which may offer additional savings options.

Five Pension Considerations for Directors and Executives The more you earn, the more you stand to gain by taking full advantage of the tax reliefs and allowances available to you. Seeking expert financial advice can help you make sure your money is working as hard for you as possible. 2023 saw the removal the lifetime allowance penal tax charges, but from April 2024 the lifetime allowance is being abolished and replaced by allowances that restrict only tax-free lump sums paid. 2023 also saw the increase in the pension annual allowance, to £60,000, which may offer additional savings options. To find out more click on the link below; #pensionplanning #tax #retirementplanning #investing

Five pension considerations for directors and executives > The more you earn, the more you stand to gain by taking full advantage of the tax reliefs and allowances available to you. Seeking expert financial advice can help you make sure your money is working as hard for you as possible. > 2023 saw the removal the lifetime allowance penal tax charges, but from April 2024 the lifetime allowance is being abolished and replaced by allowances that restrict only tax-free lump sums paid. > 2023 also saw the increase in the pension annual allowance, to £60,000, which may offer additional savings options.

Paying a lump sum into a pension can be a particularly effective way to save for your future. One-off pension payments are permitted at any time, and tax relief is available on contributions up to a maximum of £3,600 a year or 100% of earnings, whichever is greater, with the level of relief dependent on a person’s marginal rate of Income Tax. For 2023/24, the annual contribution limit for tax relief purposes is 100% of a person’s salary or £60,000, whichever is lower. https://lnkd.in/eEfe7YBw

It's important to make the most of the tax relief available for pension contributions. In this article, we've explained the latest changes https://lnkd.in/gHiksWBw

Five pension considerations for directors and executives. The more you earn, the more you stand to gain by taking full advantage of the tax reliefs and allowances available to you. https://lnkd.in/efFR9gjE

Five pension considerations for directors and executives 👇 💰 For high-earning corporate directors, ensuring you’re making the most of all available allowances on your pension could mean saving a considerable sum towards your future The more you earn, the more you stand to gain by taking full advantage of the tax reliefs and allowances available to you. Seeking expert financial advice can help you make sure your money is working as hard for you as possible. https://lnkd.in/eQd_bgxM #business #businesssupport #financialfreedom

You can usually claim tax relief on private pension contributions worth up to 100% of your annual earnings, subject to the overriding limits. Tax relief is paid on pension contributions at the highest rate of income tax paid. #TaxPensionContributions #PensionsTaxRelief