That time of year ,,,,

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    That time of year ,,,,

    its that time of year that I submit our tax returns (yes I know I should do it sooner !!) our profits aren't massive but since my wife has stopped working we can at least claim her full allowance due to a 99/1% split, properly notified etc a couple of years ago.

    t still leaves us with a tax bill (this year around 1k) but next year probably closer to 4 or 5k, unless we invest in more property and renovations (required works not improvements ...) can anyone recommend any good guides to utilising a private pension scheme that would reduce the tax burden, she is 57 and doesn't have a company or private pension.

    #2
    I don't think pensions can invest in residential property, but commercial or agricultural is OK.
    When I post, I am expressing an opinion - feel free to disagree, I have been wrong before.
    Please don't act on my suggestions without checking with a grown-up (ideally some kind of expert).

    Comment


      #3
      thanks but I was thinking more along the lines of her investing in a private pension scheme to bring the burden down and to gain some additional benefit in doing so (in later years if necessary)

      Comment


        #4
        Have you seen this stuff on gov.uk website :?

        https://www.gov.uk/tax-on-your-priva...ion-tax-relief

        May be a magazine from WH Smiths can help you ?

        Comment


          #5
          ive just ordered a couple of tax café books, thanks

          Comment

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