Comments on: Tax Allowances 2009 – Tax Rates 2009 http://www.shrewdcookie.com/tax/tax-allowances-2009-tax-rates-2009 Personal Finance Blog - with a difference Thu, 04 Feb 2010 00:55:05 +0000 hourly 1 http://wordpress.org/?v=3.0 By: shrewdcookie http://www.shrewdcookie.com/tax/tax-allowances-2009-tax-rates-2009/comment-page-1#comment-2337 shrewdcookie Sun, 20 Sep 2009 02:18:53 +0000 http://www.shrewdcookie.com/?p=301#comment-2337 Did you know that contributions to a personal pension plan effectively extend the basic rate tax bracket and you might indeed be able to receive 40% tax relief on any pension contribution. So to invest £100 you would effectively see only £60 go out of your back pocket - a 66% return on your money in year 1. Ok you will pay tax on your pension at the other end when you finally take benefits, which would be minimum age 55, but this gives a nice boost to an initial investment for a higher-rate taxpayer. Of course, it is vital that you take advice which I cannot give on this site - I would strongly suggest seeing an Independent Financial Adviser before taking any action as they can advise you personally based on your own particular circumstances Here at Shrewdcookie.com we aren't authorised by the FSA to give financial advice. So there! Did you know that contributions to a personal pension plan effectively extend the basic rate tax bracket and you might indeed be able to receive 40% tax relief on any pension contribution.

So to invest £100 you would effectively see only £60 go out of your back pocket – a 66% return on your money in year 1.

Ok you will pay tax on your pension at the other end when you finally take benefits, which would be minimum age 55, but this gives a nice boost to an initial investment for a higher-rate taxpayer.

Of course, it is vital that you take advice which I cannot give on this site – I would strongly suggest seeing an Independent Financial Adviser before taking any action as they can advise you personally based on your own particular circumstances

Here at Shrewdcookie.com we aren’t authorised by the FSA to give financial advice. So there!

]]> By: Lee http://www.shrewdcookie.com/tax/tax-allowances-2009-tax-rates-2009/comment-page-1#comment-2329 Lee Sat, 19 Sep 2009 21:03:17 +0000 http://www.shrewdcookie.com/?p=301#comment-2329 I have a nasty feeling that in my efforts to dig myself out of debt this year, I will be kicked by the government into the 40% tax bracket for my efforts towards the end of the financial year. Damned if you do, damned if you don't! Hi :) I have a nasty feeling that in my efforts to dig myself out of debt this year, I will be kicked by the government into the 40% tax bracket for my efforts towards the end of the financial year.

Damned if you do, damned if you don’t!

Hi :)

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