11 Aug Add £200 a year to your pension pot
Written by Huw Moseley, Director at Link Accounting Ltd
I was chatting with a new client in Bloxham yesterday about the various ways we’re keeping our respective children busy during the school summer holiday and thankfully there are plenty of things on throughout Oxfordshire this August!
When it comes to raising children – there are so many options available to us now. And claiming child benefit is one of those options. You know the one, the £82.80 per month for the 1st child and £54.80 for any further children.
But how many of you don’t bother claiming child benefit because you earn too much and would have to pay it back through your tax return?
Well, if your husband or wife does not earn over £5,876 (NI threshold for 17/18), you could be costing yourselves over £200 a year from their pension pot! Got your attention now???
Take a look at this article from a favourite man of mine, Martin Lewis. Although a few months old, his points are very salient and very much still applicable: Protect your full state pension entitlement.
If you think you might be affected, give me a call and we can look into whether you could be claiming. And please feel free to share this or tag anyone you think may be affected – they’re bound to thank you for it!