“People who earn between £100,000 and £122,000 should look for ways to escape the 60% tax rate by getting their taxable income down to £100,000. Making a pension contribution is an excellent way of doing this since it is deductible in calculating income,” says Ian Price, Divisional Director at St. James’s Place.
The value of a pension 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.
The levels and bases of taxation and reliefs from taxation can change at any time. The value of any tax reliefs depends on individual circumstances.