CKLG BLOG
Personal tax planning for 2019/20
08.05.2019
Private Client
With the Brexit process rumbling on and Making Tax Digital finally coming into force, now is the time to put your financial plans in place for 2019/20.
The annual pensions allowance enables you to contribute up to £40,000 in 2019/20, while you can also utilise any unused allowance from the last three years of an existing scheme.
If your adjusted income exceeds £150,000 in 2019/20, your annual allowance will be reduced by £1 for every £2 that exceeds this threshold down to a limit of £10,000. You will retain your entire allowance if your threshold income is lower than £110,000 in 2019/20.
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