Business tax: Pension tax relief

Andrew Goodall

HMRC flagged draft technical guidance published on 1 April on the high income excess relief charge now enacted in FA 2010 s 23 and Sch 2. Comments are invited by 7 June and may be addressed to pensions.policy@hmrc.gsi.gov.uk. Tax relief on contributions to registered pension schemes will be restricted from 6 April 2011 for high income individuals. The restriction will apply to people with a gross income of £150 000 or more. Relief will be tapered away so that it is given at 20% for those earning £180 000 or more.

Leading tax bodies have warned (see Tax Journal 12 April 2010 p 6) that the provisions are 'over-complex' and poorly drafted. The draft guidance is available via www.lexisurl.com/EE5Xy.

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Business tax: Pension tax relief

Leading tax bodies have warned (see Tax Journal 12 April 2010 p 6) that the provisions are 'over-complex' and poorly drafted. The draft guidance is available via www.lexisurl.com/EE5Xy.

If you or your firm subscribes to Taxjournal.com, please click the login box below:

If you do not subscribe but are a registered user, please enter your details in the following boxes: