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GPs set to be given greater flexibility over pensions contributions


When you look at this 50:50 again : ‘’Tapering of this annual allowance began on 6 April 2016 and reduces the standard £40,000 annual allowance for pension contributions by £1 for every £2 earned over £150,000, down to a minimum of £10,000 allowance (at £210,000 income).’’ Because this is one size fits all (again !) , this is not just punitive but like wiping out a ‘tribe’ . As long as your total income that year goes beyond a certain threshold , you are f***ed UNLESS you play the loophole of forming a private company to exploit the advantage of corporation tax rate at around 18-19% but there is certainly ‘restrictions’ to set up a limited company.

Posted date

07 Aug 2019

Posted time