PUBLICATION DATE: MAY 2025
PAGES: 274
EDITION: 17th
ISBN: 9781917392044
READ CONTENTS & FIRST SECTION

Pension Magic

How to Make the Taxman Pay for Your Retirement

By Nick Braun PhD

Pensions are arguably the best tax saving device for both salary earners and business owners... with full Government backing!

Pension Magic shows you how to secure thousands of pounds of extra tax relief on your pension contributions and pay less income tax when you withdraw money from your pension.

The latest edition has just been published (May 2025) and contains all changes announced in the October 2024 Budget and the March 2025 Spring Statement, including the proposed introduction of inheritance tax on pensions.

The book is written in plain English with dozens of real-life examples and is essential reading for:

• All self-employed individuals and landlords
• All company owners
• Most private sector employees
• Accountants and financial advisers

What Information is Contained in the Guide?

Subjects covered include:

• All tax and pension changes announced in the October 2024 Budget and March 2025 Spring Statement.
• A plain-English guide to the pension rules:
• How much you can put in
• How and when you can take money out
• How to maximise your tax savings at every stage
• Why higher-rate taxpayers will typically end up 41.67% better off by saving in a pension instead of an ISA.
• How couples can increase their retirement income by over 30% by correctly choosing who makes pension contributions.
• How pension contributions can help you pay less capital gains tax when you sell assets like property.
• How higher income earners can enjoy between 50% and 60% tax relief on their pension contributions.
• The new child benefit charge: why those earning £60,000 to £80,000 should consider making bigger pension contributions.
• How to enjoy income tax relief and national insurance relief with a salary sacrifice pension.
• Why salary sacrifice is even more attractive following the recent increase in employers national insurance.
• The new Lump Sum Allowance which caps the amount of tax-free cash you can take.
• Why pension contributions are still worth making even after you've used up your Lump Sum Allowance.
• Tax saving strategies to follow in light of the proposed introduction of inheritance tax on pensions.
• How your children could still end up with between 16.67% and 41.67% more money by inheriting your pension pot instead of alternative investments like ISAs.
• Pension strategies for business owners, including:
• Why company pension contributions are now, more than ever, an attractive alternative to dividends.
• How company owners could end up paying just 15% tax on their pension income, compared with 51% tax on their dividends.
• Why it's better to get your company to make the contributions instead of making them personally.
• How to use your pension savings to buy property for your business.
• How your business can borrow money from your pension.
• How to avoid the pension recycling rules - rules that prevent you enjoying two rounds of tax relief.
• The increase in the minimum pension age from 55 to 57: How those in their early fifties are affected.
• How to save income tax when you withdraw money from your pension.
• Plus lots and lots more!

Click here to read the full contents listing and first section of the book

About the Author

Dr Nick Braun founded Taxcafe in 1999. Over the past 26 years the company has become one of the UK's best-known tax publishers and has won several prestigious business awards. Nick has been a specialist tax writer since 1989, first in South Africa where he edited the monthly Tax Breaks publication and since 1999 in the UK, where he has authored several tax books. Nick also has a PhD in economics from the University of Glasgow where he was awarded the prestigious William Glen scholarship and later became a Research Fellow.

Free Bonus Tax Guide - How to Save Tax 2025/26

When you order this guide you will also receive a FREE copy of How to Save Tax.

This comprehensive tax guide contains around 130 pages of tax saving tips. The latest edition includes all major tax announcements made in the October 2024 Budget and the March 2025 Spring Statement.

Please click here for more information on this excellent bonus e-book.