Are you a self-employed sole trader wondering how pension contributions affect your tax bill?
You’re not alone! Many sole traders assume that contributing to a private pension will reduce their taxable profits, but the reality is quite different. In this video, I break it down step by step so you can avoid costly mistakes and maximise your tax savings.
🔹 What You’ll Learn in This Video:
✅ How pension contributions work for self-employed individuals
✅ Why your pension contributions don’t reduce your taxable profits
✅ How tax relief is applied to pension contributions
✅ How your basic rate tax band increases to save you tax
✅ A full worked example to show you exactly how this affects your tax bill
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