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Tricks of the Rich by Paul A Overy

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Chapter 8

How the rich pay less tax

As we’ve seen in earlier chapters, investing your money before you pay tax will make you immediately wealthier, simply by allowing you to keep more of what you earn. The fact that retirement funds not only provide this tax concession, but that they are also exempt from many ongoing taxes, means they provide a double benefit. This is why I suggest that you use these allowances first, and only look for other ways of saving tax once you are at your maximum. Of course, I am not for a moment suggesting that you fail to identify other opportunities to save tax, just be sure to use those that are guaranteed, before moving on.

Tax incentive schemes

Tax incentives are generally offered by the government – either ...

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