High Rate Taxpayer consequences
Discussion
Jockman said:
Ozzie - what about this year? Is it worth deferring, knowing that you will be pushing dividends into a less benign regime next year?
By "try to move the excess to a different tax year" I meant pulling forwards or pushing backwards as may suit the individual's situation and the UK tax regime from time to time. Mr E said:
Ozzie Osmond said:
Pension contributions. Tax relief at your highest marginal rate. 
Changing shortly?Ozzie Osmond said:
Well it might. But at the moment tax relief remains available at the taxpayer's highest marginal rate (i.e. up to 45% or even 60% as identified in this thread). The new pension limits are on the total amount contributed in each tax year.
It's £30k a year max now isn't it that's still a hefty amount for most to pay in so you could dump the whole £100-120k difference into a pension pot ontop of a previous c£10k The other kicker is all the buy to let income savings income share income on top of salary for many people put them smack into this 60% range which is a f
ker. Of course we've gone from £4.5k and will be up to £12k so that will then be £100-124k give or take why the starting point for the 60% doesn't increase is criminal.
No. The Allowance remains at £40k. Indeed, depending on your pension input period, you can have an Allowance of up to £80k for this tax year only. Do the maths. From April 2016 all input periods will run coterminous with the tax year.
Next tax year will also see the tapering of the allowance for those above £150k Inclusive of the Allowance gradually up to £210k where it will be reduced by £1 for every £2 up to a max of £30k reduction.
Next tax year will also see the tapering of the allowance for those above £150k Inclusive of the Allowance gradually up to £210k where it will be reduced by £1 for every £2 up to a max of £30k reduction.
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