Overview

Pension Magic shows you how to build a big retirement pot by claiming thousands of pounds of extra tax relief on your pension contributions. The 13th edition was revised in December 2022 and contains all the latest tax changes. The book is written in plain English with dozens of easy to follow examples. It is essential reading for: Self-employed individuals Company owners Salary earners (except those with final salary pensions) Accountants and financial advisers Subjects covered include: All tax changes in the November 2022 Autumn Statement and previous Budgets A plain-English guide to the pension rules: how much you can put in, how and when you can take money out and how to maximise your tax savings at every stage How a couple can increase their retirement income by over 30% by correctly choosing who makes pension contributions Why higher-rate taxpayers will typically enjoy 41.67% more retirement income by saving in a pension instead of an ISA How to enjoy income tax relief and national insurance relief with a salary sacrifice pension Why company pension contributions are now, more than ever, an attractive alternative to dividends for company directors How to use your pension savings to buy property for your business How your business can borrow money from your pension How parents claiming child benefit can receive between 51% and 74% tax relief on pension contributions Benefits and drawbacks of withdrawing your pension savings to invest in property Pension strategies for high income earners (including the tapered annual allowance) A whole chapter on the lifetime allowance How to avoid being hit by the pension recycling rules Why pensions are one of the best inheritance tax shelters

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9781911020776

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