The 2020 Budget increased the scope for many high earners to make a bigger pension contribution in the tax year ending 5 April 2021. The annual allowance income limit was increased to £200,000, significantly reducing the number of people affected by the tapered annual allowance. The availability of a full […]
Tag Archives: Annual Allowance
Are you aware of the temporary increase in the tax allowance available on your plant and machinery expenditure? With effect from 1 January 2019, the Annual Investment Allowance (AIA) has been increased from £200,000 pa to £1,000,000 pa for a two-year period only. However, if your accounting period extends beyond […]
With tax year end just around the corner, it’s time to check you are making the most of your tax reliefs and allowances to save for a brighter future. You may want to consider: Approaching retirement: boost pension saving now before triggering the Money Purchase Annual Allowance Anyone looking to […]