JJ Hareb Financial Planning’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 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.

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

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. Click here to find out more: https://bit.ly/3WnBPPV

The pension lifetime allowance was removed at the start of the new tax year, replaced by three lump sum allowances. Learn more about each of them in this article.

The pension lifetime allowance was removed at the start of the new tax year, replaced by three lump sum allowances. Learn more about each of them in this article.

Making pension contributions before 6 April 2024: The ability to make tax-relieved pension contributions is limited by both your earnings and your available annual allowances. Read this article to help you assess whether it would be possible to make further tax-relieved contributions before the end of the 2023/24 tax year. #Business #PersonalFinance

The pension lifetime allowance was removed at the start of the new tax year, replaced by three lump sum allowances. Learn more about each of them in this article.

The pension Annual Allowance increased significantly in the 2023/24 tax year. If you haven’t already reviewed whether the changes could mean you can tax-efficiently add more to your pension, doing so before the current tax year ends on 5 April 2024 might be beneficial.