Why saving for tomorrow can reduce the tax you pay today: Tax-efficient ways of contributing to your pension

Pension and tax legislation is changing fast and becoming more complex, but this has also created opportunities. Read on to find out how paying into your pension for the future could reduce the amount of tax you pay today.
The Government has announced that, from 2013, child allowance will cease for higher-rate tax-payers. This is currently £20.30 per week for your first-born, totalling £1,055.60p.a. But, what if you are on the cusp of higher-rate tax relief? Are there any measures you can take in order to keep the allowance? The simple answer to this is YES.