Tax Relief on Pensions Since 6 April 2010, the personal allowance will be reduced by £1 for every £2 of income above £100,000. Making a pension contribution can reduce income and protect the personal allowance, resulting in tax relief of 60%. Key facts A pension contribution for people earning between £100,000 and £123,000 gives an effective tax… Read more »

Child Benefit Tax Charge Since 7 January 2013 an income tax charge applies to those who get Child Benefit and whose income (or partner’s income) is more than £50,000 in a tax year. If income is between £50,000 and £60,000, the charge is a proportion of the Child Benefit received. If it’s over £60,000, the… Read more »