This pension trick can slash your tax bill

Do you think income inequality has risen in the UK in the last 30 years? If you read the papers at all, you probably do. You are wrong.

As Matt Ridley notes in The Times, after accounting for taxes and benefits, the average income of the top 20% falls from £78,300 to £57,300. That of the lowest 20% rises from £5,400 to £15,800.

So, the highest incomes are roughly four times the lowest (you can, of course, make the divide wider if you want by going for the top and bottom 10% or 5%). That makes [...]

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