Barry Sears, IFA, Camberley of Professional Wealthcare has some very beneficial and rewarding information for those members of the Best of Camberley who are earning over £100,000 per annum.
Barry says, " from 6th April 2010, the personal income tax allowance is being reduced for annual incomes above £100,000, which means you will pay more tax!
One way of keeping your income tax allowance is to make a pension contribution, to reduce your income to below £100,000.
The effect of planning is most apparent where an individual's income falls between £100,00 and £112,950 (assuming personal allowance remains at £6,475).
It is possible to reduce your tax liability by £3000 - that's equivalent to 60% of the pension contibution!"
Professional Wealthcare offer this guidance for information only and the above does not constitute advice.
Should you want to get full details of Professional Wealthcare service, then
Contact Barry Sears on 01276 517700.
17th March 2010