Easing the Tax Rise Burden by Making Shrewd Investments

Summary

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WITH increases in taxation expected in the new Chancellor's emergency budget on June 22 following on from the tax increases for high earners and trusts introduced by the previous Government, it is now more important than ever to take advantage of tax efficient savings and investment opportunities.

The Labour Government introduced the 50 per cent rate of income tax for individuals with income of more than [pounds]150,000 and also brought in measures to be effective from next April, to restrict the tax relief they receive on pension contributions.

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Extract

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Easing the Tax Rise Burden by Making Shrewd Investments

Anyone likely to be affected by the restriction on tax relief may wish to bring contributions forward and pay them during this tax year.

However, "anti-forestalling" regulations mean that if individuals whose income exceeds [poun...

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