Pension Magic 2016/17

Author: Nick Braun
Publisher: Taxcafe UK
ISBN: 9781911020066

Previous Edition ISBN: 9781907302985
Published In: June 2016
Format: Paperback
Jurisdiction: U.K. ? Disclaimer:
Countri(es) stated herein are used as reference only

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Pension Magic 2016/17 shows you how to build a big retirement pot by claiming thousands of pounds of extra tax relief on your pension contributions.

The 6th edition was published in June 2016 and is completely up to date for the current tax year. It contains full details of ALL the major pension changes that have taken place over the past 24 months. Pension Magic is written in plain English with dozens of real-life examples and case studies.

There were fears that higher-rate tax relief would be scrapped in the March 2016 Budget. In the end no change was made which means pensions remain the best tax saving device for most salary earners and business owners - with full Government approval!

For example, with higher-rate tax relief, you will typically receive 42% more income by putting your money in a pension instead of an ISA. Full details in the guide.

The Lifetime ISA - The March 2016 Budget saw the launch of the Lifetime ISA and the new edition of Pension Magic tells you everything you need to know about this fantastic new tax shelter. For example, basic-rate taxpayers may be able to boost their retirement income by 18% by putting money in a Lifetime ISA instead of a pension and higher-rate taxpayers may be able to boost their retirement income by 77% by investing in a Lifetime ISA and then reinvesting their savings in a pension, thereby enjoying two rounds of tax relief!
Landlords & Company Owners - Starting in April 2017 landlords will no longer enjoy full tax relief on their mortgage interest. As a result many will pay thousands of pounds more tax. In this new edition we show you how to completely reverse the tax increase by making pension contributions.

With the recent increase in dividend tax rates many company owners should consider getting their companies to make pension contributions. Instead of taking a dividend taxed at a combined rate of 46% (corporation tax and income tax), your company can make a pension contribution which may eventually be taxed at just 15%.