Increase your Pension Savings before 6 April 2018 to reduce payments on account.
Unfortunately investing more in your pension now will not reduce your 2016/17 tax liability, however if you invest before 6 April 2018 that payment can be taken into consideration in computing your 2017/18 liability and hence you might be able to claim to reduce your payments on account, if you make them. The maximum pension contribution is generally £40,000 each tax year, although this depends on your earnings. It is also possible to add to this any unused relief brought forward from the previous three tax years.
Robinsons London Accountants – accounting done differently
At Robinsons we work hard to understand, communicate, interact, engage and, above all, to connect with each and every one of our clients – from entrepreneurs to established businesses, from every area of London and from every sector you can imagine.
MEET THE TEAM to find out more about Joseph, Richard and Matthew.
For us, it’s all about building long-term relationships and really getting to know what makes you tick and what your goals are. We do all this using the latest accounting software. We also have great packages to help start-ups. Remember, we care about your business, not just your accounts.
Leave A Comment