Under new legislation, you can now be reimbursed for up to £500 of financial advice fees per year. This reimbursement comes tax-free from your employer, in return for you sacrificing salary (that would have been taxed). So, you can save up to £310 p.a. in tax and national insurance!
Haven’t received advice yet this tax year? You’ll need to do that first! We can help you find a local, top rated financial adviser now.
Claim Your Voucher now:
After you Claim Your Voucher...
We confirm with your adviser how much you have spent on pension advice (or have committed to spend).
Your employer approves your request and makes a deduction of the same amount from your salary (which you would have paid tax and national insurance on).
We notify you when your funds are ready, and pay them to you (if you've already paid your adviser) or to your adviser (to cover any fees due). No tax or national insurance is due on this!
What if my employer doesn't yet offer Pension Advice Vouchers? The best thing to do is make your claim anyway. We will happily contact them and walk them through the few simple steps necessary. There is a small cost for them, but it's normally more than offset by what they save in national insurance! Or if you'd prefer to speak with your employer first, just send them a link to this site, and once they've registered you can come back and submit your claim.
Questions? Call us on 0330 500 1586
In the News...
"Psst! The boss can save you up to £310 on pensions advice"
"It makes perfect sense"
"A saving of up to £310 per annum can be achieved"
"people [need to] realise they are able to do this"
Why can you save tax on Pension Advice?
On November 16th 2017 a new Act was passed, allowing employers to reimburse employees for any costs incurred in receiving advice or guidance related to their pension, up to £500 p.a.
The government have introduced this as a non-taxable benefit, knowing it's more important than ever that people seek professional financial advice on their future retirement.
Of course, few employers can afford to simply give their staff an extra £500, so they'll usually ask that they deduct the same amount from your salary.
That means you're giving up salary, which would have incurred tax and national insurance, in return for a voucher you can cash in (to cover the cost of the pension advice), on which no tax or national insurance is payable.
Frequently Asked Questions
What happens after I submit a request? | How do I get payment? | Am I eligible for Pension Advice Vouchers? | What counts as 'pension advice'? | I/we have multiple employers - can I/we claim twice? | Who's behind Pension Advice Vouchers? | What legislation allows for Pension Advice charges to qualify for Salary Sacrifice scheme?
Pension Advice Vouchers come from VouchedFor.co.uk, the UK's leading reviews website for financial and legal professionals. We’ve already helped over 100,000 people find a great financial adviser.
Now we’re on a mission to help employers make it easy - and more affordable - for their employees to get brilliant financial advice. Whether your employee has complex needs requiring a top-rated local Financial Adviser, or they would like a FREE financial planning session from one of the financial coaches at Hatch, we make it easy and more tax efficient to find the best solution.
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