Pay in the Pension Scheme
Pay in the Pension Scheme Support for your employer's pension scheme (including any additional voluntary contributions by you) can be obtained from your total salary before any taxes are collected. The government will give you a pension with a tax rebate, which will give you a free bonus to save for retirement. You can use our Pension Tax Relief Calculator to see how much you can save. 4 .Take Advantage of the Wedding Allowance A marriage allowance tax is allowed which benefits the couple where one partner earns less than the personal allowance. If you are married or in a civil partnership, you can transfer any unused personal allowance from a low-income partner to a higher earner. Transfers can be as high as 2 1,250 in 2020-21, potentially saving you up to £ 250. To qualify, the highest earner must be a 20% taxpayer. Watch our quiz. See if you are eligible for a marriage allowance Accountants Walsall. 5. Meet the Tax Return Deadline If you're one of ...