March is all about timing

WHILE all the focus at the end of the tax year is on using the annual ISA allowance, some valuable pension benefits can be claimed as well.

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FIVE-MINUTE GUIDE TO... END OF YEAR PENSION TAX BREAKS

Pensions remain one of the most tax-efficient ways to build long-term wealth and there's still time to make the most of this year's allowances.

Maike Currie, personal finance expert at PensionBee, said given record high tax rates and frozen thresholds, it's more important than ever to make full use of every tax break: "Used correctly, they can be even more powerful than ISAs."

Currie listed five pension moves to consider making in the final days of the tax year.

Use your annual allowance

Everyone can contribute the equivalent of their annual income to a pension each year with tax relief, up to a maximum £60,000. "This amount is known as the annual allowance and any contributions over this limit are taxed at your highest rate," Currie said.