Use it or lose it: Making allowances for a tax efficient retirement

The key to unlocking a tax efficient retirement income lies in ensuring that tax allowances have been maximised. Paying less tax will means savings will last longer in retirement and potentially provide a greater legacy for loved ones. But without the right advice, it easy to overlook the tax effect of withdrawals and end up paying more tax for the same net income. With tax allowances, it's a case of use it or lose it   Allowances on offer There are allowances of £26,700 up for grabs this year. From next April, this will rise to over £33,000 with the addition of the new ...