Benefit from an increased allowance before April 2017

From April 2017, the money purchase annual allowance (MPAA) will be reduced from £10,000 to £4,000. This means that anyone who has flexibly accessed their pension income will be limited to saving £4,000 a year (£3,200 before tax relief) into a personal pension, without triggering a tax charge. This has been put into place to stop individuals recycling tax relief.

If you fall into this category save your £10,000 before it is too late. With 20% tax relief this is only £8,000. Simply contact Sarah on 020 7384 7300 for more details.

Published on 12/12/2016