John Kelly is a very personable IFA who is always willing to help and has the clients best intentions at heart. He is happy to explain advice given and is very quick in responding. When giving advice all options are considered in a very detailed manner. I would definitely recommend using.
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Pensions 2009 |
||
|
|
Annual Allowance¹ £ |
Lifetime Allowance² |
|
2009/10 |
245,000 |
1.75m |
¹ UK taxpayers are eligible for tax relief on contributions of the higher of £3,600 and up to 100% of relevant UK earnings. If the increase in the value of the pension rights or the value of contributions exceeds the annual allowance, the excess will be subject to a 40% tax charge.
² The lifetime allowance acts to restrict the amount of pension savings that are eligible for tax relief on payment. Where, on retirement, the deemed value of the fund exceeds the allowance, an effective tax rate of 55% will apply to the excess.
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