Think Smart Think Tax Allowances

Think Smart Think Tax Allowances

Think Smart – Think ISAs

Why Choose to Invest in an ISA? 

Danske BankIt’s a long-term, tax efficient way of saving 
 
Danske BankYou can save in a stocks & shares ISA or cash ISA or in a combination of both 
 
Danske BankYou don’t pay Capital Gains Tax on any capital growth
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An Individual Savings Account [ISA] is a tax efficient way of saving or investing. 

ISA Allowances

 

2016/2017

2017/2018

Annual Allowance

£15,240

£20,000

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Think Smart – Think Personal Pensions

A personal pension is a tax efficient way to save for retirement. When you pay into a personal pension you receive tax relief on your contributions at your highest rate of income tax. The earliest age you can take your personal pension is usually 55, depending on your arrangements with your pension provider. From 6 April 2015, when you retire you can now take all of your pension pot as a lump sum although only 25% of this lump sum is tax free. There are various flexible access options available for the remainder of your personal pension fund or you could consider using it to buy a pension annuity.

Personal Pension Allowances


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2016/2017

 

2017/2​018

Annual Allowance

£40,000

£40,000

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Why Choose to Invest in a personal pension? 

Danske BankIt’s a long-term savings plan designed for retirement offering
real tax advantages

Danske BankYou can receive tax relief of 20% of your contribution which
means, for example, if you pay £8,000 into your personal pension an additional £2,000 is claimed by the pension provider and added to your plan. If you pay higher than the basic rate of income tax, you can claim higher rate relief through your self assessment tax return. Please note, you will get tax relief up to 100% of earnings up to a maximum of £40,000

Danske BankYou benefit from tax-efficient growth on your pension fund 
investments

Danske BankYou can make the most of tax advantages when you retire

Danske BankThe state pension may not be enough to fund a comfortable 
lifestyle in retirement ​

call 0800 917 4192  
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This webpage is a financial promotion as defined by the Financial Conduct Authority’s Conduct of Business Sourcebook.

Past performance is not necessarily a guide to future performance. The value of your investment and any income you take from it can go down as well as up. It is possible that the value may fall below the original investment and you may not get back what you invested. Tax treatment depends on the individual circumstances of each customer and may be subject to change in the future.

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