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Pension expert explains tax tip that helps high earners keep key benefit

Summary by Daily Express

Brits are being urged to make the most of annual allowances that could help them offset a freeze in income tax thresholds.

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Pension expert explains tax tip that helps high earners keep key benefit

Brits are being urged to make the most of annual allowances that could help them offset a freeze in income tax thresholds.

2 days ago·United Kingdom

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NewsGroove Uk

Pension expert explains tax 'trick' that helps even higher rate workers keep key benefit - NewsGroove Uk

UK workers are being told about a tax method which could save money and help keep all of a key benefit if they have children. The next three years will see more Brits fall into the higher rate tax bracket of 40%, unless Chancellor Rachel Reeves’ freeze on extending tax brackets is lifted. Dean Butler, managing director for retail direct at Standard Life, said the number of UK taxpayers subject to higher rate income tax has risen 30% in the last …

2 days ago

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Business Fast

Pension expert explains tax 'trick' that helps even higher rate workers keep key benefit - Business Fast

2 days ago

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Whitley Stimpson

High-income child benefit charge via PAYE

From August 2025 employed taxpayers will no longer be required to complete a self assessment tax return (SATR) to declare and pay the high-income child benefit charge (HICBC). The HICBC is a tax charge paid by the higher earning parent which claws back up to 100% of the child benefit claimed by either parent. For the tax year 2024-25 the HICBC is payable at 1% for every £200 of adjusted net income between £60,000 and £80,000 when the charge reac…

2 days ago

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IFA Magazine

Aberdeen’s last-minute pension checklist for TYE - IFA Magazine

Financial experts at Aberdeen Adviser are urging savers to consider using their pension to manage their tax bill or retain valuable child benefits before allowances reset at the end of the tax year. With only days to go before the 2025/26 tax year begins, time is running out for people to make the most of opportunities to use pension saving in conjunction with their other saving allowances. Andy Zanelli, head of technical engagement at Aberdeen…

2 days ago

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