Professional Renaissance Limited is a limited company registered in England under company number 6380089. Our registered office address is: The Business Store, 98-100 High Road, Rayleigh, Essex, SS6 7AE.
Tax year end 2016
The Budget 2016
Tax dates 2016/17
Maximise Annual Allowances
You can get tax relief on up to £40,000 worth of pension contributions this tax year and accelerate saving using ‘carry forward’
The amount you can currently invest into a pension tax-free is capped at £40,000 a year. This is known as the ‘annual allowance’. But if you have more cash designated for retirement than is permitted by the annual allowance, unused allowance from the three previous tax years can be carried forward and allocated to the present tax year. In the process, you can claim tax relief on these contributions at your current highest marginal rate.
If you have maximised your 2015/16 allowance, you should look to use any remaining annual allowance, starting with unused allowance from the 2012/13 tax year, as the ability to use this will expire on 5 April 2016.
The levels and bases of taxation, and reliefs from taxation, can change at any time and are dependent on individual circumstances.
The value of an investment with St. James's Place will be directly linked to the performance of the funds you select and the value can therefore go down as well as up. You may get back less than you invested.