For those that have not yet submitted their self-assessment returns, due by 31 January 2003, tax benefits can still be obtained.
Pension policyholders have just one week to take advantage of the 'carry back' rules, allowing use of unused pension tax relief.
For the last time, policyholders are able to carry back their pension contribution to the previous tax year and claim the unused relief. By maximising pension contributions, tax bills can be reduced and tax relief up to 40% by higher rate taxpayers can be gained.
Carry back can be useful for all people that contribute to pensions. However, our tip is not to save all available money into pensions. Make sure you have an emergency fund and short term monies, just in case you need to get hold of them.
Pensions are for the long term and contributions should be realistic and affordable.
Contact us now for a fast track response to solve your pension needs.