Change begets change - tax treatment of pensions for high earners explained
In April 2009 the then Labour Government took steps to prevent high income individuals from obtaining higher rate tax relief on additional pension savings in 2009-10 and 2010-11 in excess of their normal ongoing pattern of contributions. These 'anti-forestalling' provisions went hand-in-hand with the announcement that higher rate relief on pension savings for high income individuals would be restricted from 6 April 2011. Having announced that measure in advance it was felt necessary to take immediate steps to prevent advantage being taken of higher rate relief in the intervening period.
Recent changes to the tax treatment of pensions for high earners are welcomed, if only for making the best of a bad lot. Deloitte’s Nicola Roberts explains the steps high earners should be taking
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