Pension allowances rose in spring 2023. Read about the increases and how to make the most of them ⬇️ https://ow.ly/SuSv50QYrKe | Standard Life UK | Facebook
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HMRC has finally cleared up how pension allowances really work — and a lot of people are realising they’ve been confused for years. The key point: there is a limit to how much you can put into private pensions before extra tax kicks in… and high earners get hit with tapering much sooner than they think. If you’ve got multiple pension pots, remember: the allowance is shared across all of them. Going over it — even accidentally — can lead to an unexpected tax bill. 💬 Do you think these rules are
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