23rd
Apr
Budget Update: Relief for pension contributions
Posted in Daily £££ Chatter |
From 6 April 2011 tax relief on pension contributions is to be restricted.The relief will be restricted to the basic rate of income tax – currently 20% – for those individuals earning in excess of £180,000. Relief will be tapered between 20% and 40% for those earning between £150k and £180K.
Transitional provisions will take effect immediately , effectively closing any window of opportunity between now and 6 April 2011. The rules are complex and more information can be found by clicking HERE
