PERSONAL TAX


The starting point for personal tax planning and wealth management is gaining a good knowledge of our client. Rawlinson Pryde & Partners will take the time to make sure that we know our clients’ individual circumstances which will determine which strategies are correct for them.

Being a high net wealth client can lead to some additional tax compliance issues you may not necessarily think of.

 

Understanding the family structures of our clients and their objectives and desires enables us to tailor our advice to each client’s individual circumstances. Our advice includes, but is not limited to, the following topics:


One area that is effecting High Net Wealth Individuals is Pensions.

When you earn over £150k your £40k annual pension contribution limit starts to be restricted by £1 for every £2 until it is capped at £10k.  This generally means that once you earn £210k your annual allowance is only £10k.

Your annual limit includes your grossed up contributions and your employer contributions.

This means you are more likely to potentially have a tax charge without realising.  This means that it is important to ensure any used allowances available to be carried forward are utilised to minimise any additional taxation.