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In the absence of a crystal ball, there is no way of knowing for sure how tax relief will be affected by the upcoming Budget on 21 March. Having said that, there is always the possibility that higher rate relief will be withdrawn altogether in which case, now is the time to contribute to your pension.

Maximising the tax relief on your pension.

From April 2011 the annual allowance for claiming higher and additional rate tax relief is £50,000, but depending on your contribution history, you may be able to contribute more than this. Click here to read our previous blog on how the pension carry forward rules could apply to you.