Following the Election result on 8 May, the Chancellor has announced that there will be a second Budget. We expect this to include a number of Conservative manifesto tax pledges.
There have been whispers in the financial press that the maximum pension contribution of £40,000 may be reduced or a possible reduction in the amount of tax relief for higher earners.
Our advice is that if you are intending to make a pension contribution in this tax year then it would be sensible to make this contribution before the 8 July.
Please contact us if you have any questions about this.