‘Seek advice’ on pension funds

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SHEFFIELD-based tax and financial adviser at Grant Thornton, Andrew Westhead, warned that a reduction in the annual tax free allowance for pension contributions means people with private or company pensions should take advice on how to protect their investment.

But he said the cut in coporation tax will make the UK ‘one of the most competitive’ places in Europe for businesses, while tax breaks will allow firms to invest in plant and machinery.

Mr Westhead added: “The real estate sector does not appear to have borne the brunt of the Chancellor’s focus this time round; plus it seems that the Chancellor is continuing to help support the UK construction sector via investment into infrastructure.”