We are pleased to attach our Spring 2023 Budget Summary which we hope is of interest to you.
UK Taxpayers will now suffer the highest tax burden since World War II, which will undoubtedly apply additional strain on many households and businesses when combined with current Inflationary and Cost of Living pressures.
However, the rising tax rates and reducing thresholds present an exceptional opportunity for businesses and individuals (who can afford it) to plan and maximise the revised HMRC tax allowances.
The removal of the Lifetime Allowance, the increase in Annual Contributions limit to £60,000 pa from April 2023, and Increased Tax Rate combined with Pension Funds remaining exempt from IHT will considerably increase the appeal and the level of Pension contributions made by Higher Earners.
Please, get in touch if you would like us to calculate the maximum pension contributions that you or your business can invest in light of the recent changes and explain how the Budget Changes will be of benefit to you and your business.
You can call us on 0161 482 8285 or email us at firstname.lastname@example.org.
Alternatively, you can submit a contact form.Download Our Spring budget summary here!