Are you Self-Employed? Are you paying into a pension?
For Ltd Co directors the contributions into a pension can be classed as a business expense, so would reduce your corporation tax liability.
For sole traders / partnerships you would be entitled to rebate on the tax - 20% for basic rate tax payers and up to 40% for higher rate tax payers.
I understand it can be hard to contribute when you don’t have an employer to do it for you, but even a small contribution every month could make a difference to your future. If you put money aside each month for tax then treat this the same way.
The sooner you start the better, as you will benefit from compound growth.
If you put it off you would have to pay in much higher monthly amounts to achieve the same goal.
For more information, get in touch and we can talk you through the options. Please contact us or call Rachael on 01323 436680 and book a FREE initial consultation today.