In the second of two articles and unfortunately the last of his regular contributions John Hayward of Carr Sheppards Crosthwaite concludes his overall views on the Inland Revenue's consultative document on pensions simplification
Benefits
There is to be a single consistent set of rules about the benefits payable. The current multiple sets of tax rules specifying many ways in which pension benefits can be paid are to be swept away. The Government recognises however that people need encouragement to save for their retirement pensions many years down the line so the tax-free lump sum remains as will higher rate tax relief on contributions. At retirement people will be able to take all their...
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In the second of two articles and unfortunately the last of his regular contributions John Hayward of Carr Sheppards Crosthwaite concludes his overall views on the Inland Revenue's consultative document on pensions simplification
Benefits
There is to be a single consistent set of rules about the benefits payable. The current multiple sets of tax rules specifying many ways in which pension benefits can be paid are to be swept away. The Government recognises however that people need encouragement to save for their retirement pensions many years down the line so the tax-free lump sum remains as will higher rate tax relief on contributions. At retirement people will be able to take all their...
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:
