Best Financial Advisors in Welwyn Garden City

Thinking about pension planning? Here's why it's a smart move: Under current rules, the government boosts your pension contributions by 20% at the basic rate. For example, if you save £4,000 in a personal pension, the government adds £1,000, making it £5,000. Plus, as a higher rate taxpayer, you get an extra £1,000 tax relief, reducing the net cost to just £3,000.💡 Additional contributions are even more advantageous if your income falls between £100,000 and £125,140, as they reduce net income for the personal allowance reduction. With every £2 of income over £100,000, the £12,570 personal allowance decreases by £1, resulting in a 60% tax saving when net income hits £125,140 or more. Plan wisely for a secure financial future!