Tax relief is one of those phrases that gets thrown around anytime pensions comes up.
You probably know it’s the thing that makes pensions soo good for saving in.
But what exactly is tax relief? And how does it work?
Good news! In this episode we are going to walk through exactly how it works if:
- You are a non-tax payer
- You are a basic rate tax payer
- A higher rate tax payer or additional rate tax payer
- A limited company director
- Your company uses salary sacrifice
3.59: An overview of what it is
5.56: I don’t pay tax, can I still get relief?
8.49: Tax bands explained
9.37: How it works for basic rate tax payers
11.12: Relief at source method
11.54: Net pay method
16.25: How does it work if I pay higher rate tax?
31.25: Salary sacrifice explained
34.30: How much tax relief can I claim?
35.44: Limited company directors
Here’s the link to the template letter for higher rate tax payers to reclaim previous years relief.
INTRODUCING YOUR HOSTS
Catherine Thomas-Humphreys is an independent financial adviser, will writer and certified financial coach.
Catherine works with parents to financially empower them to raise up their family, in particular families undergoing change or complexity including blending, separating, single & co-parenting.
She founded #TheFinfluencer during lockdown to support and empower those feeling fearful or overwhelmed with their financial situation and focusses her work on creating positive relationship with your money, yourself, and those you love.
Julie Flynn is an experienced independent financial adviser and financial coach. Justice and equality drive Julie. Which is why she’s spent years studying and researching how stress affects our financial decision making.
She uses her years of experience and research to support women experiencing or planning significant change in their lives.
Julie is best known for her work with women who have lost their partner and coaching financial services business who want to implement fair and transparent charges.
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