account where you can deposit up to £20,000 each year before you will pay any tax on interest earned or investing returns – this is in addition to your personal savings allowance.
This tax year, you can deposit £40,000 or money equal to your salary – whichever is lower – into your pension to set yourself up for retirement and next year this is rising to £60,000. You also don’t pay any investment taxes on the growth within your pension. So, both of these combined, make your pension one of the most tax-efficient ways to save for your future.Was 2022 the year you started a side hustle?
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