Have you already made your employer pension contribution for this tax year?
If not, it may be worth considering making the contribution now rather than delaying until your pre year end tax planning meeting.
Although we don’t know what the outcome of the impending budget will be, there is potential that employers’ national insurance contributions become due on employers’ pension contributions or the annual allowance is reduced. If national insurance was targeted, a £60,000 pension contribution would also attract a £8,280 national insurance cost.
Should you wish to discuss if you should consider bringing forward your contributions, please contact a member of our team.
Please note that we are unable to provide pension investment advice, you will need to speak to your financial advisor for this advice.