You may be looking to do your last minute tax return this weekend. For those that are higher rate tax payers, please do remember to apply for the higher rate tax relief on any Pension contributions that you made.
According to research by Prudential recently, only 27% of people who could get Higher Rate relief actually claim it. As Basic Rate tax relief is normally received at source this means an extra £200 tax relief for every £1,000 of contribution made in the tax year.
Don’t worry if you’ve already completed your tax return though, as you can actually go back four years and still claim this rebate.
If you would like more information on end of year tax planning opportunities centred on your personal circumstances, please contact us >>