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Employment and The Budget

Bill Kirwan employment tax director at PricewaterhouseCoopers LLP feels this is a prudent time to review overall reward strategy and delivery
Gordon Brown's eighth Budget contained few surprises but did confirm a number of changes in the employment taxes arena.
Pension reforms
The most significant announcement was the decision following the National Audit Office report on the numbers affected immediately on 6 April 2005 by the proposed lifetime allowance to proceed and replace the eight existing pensions tax regimes with a single simplified and durable regime. This radical overhaul which will now take effect from 6 April 2006 (A-Day) and not 6 April 2005 will enable pension providers employers and individuals...

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