In the first of a regular feature the Pensions team at Norton Rose bring us up-to-date with the pensions news and provides a legislative update
Treasury reconsiders pension cap
After fierce opposition to the Government's plans to impose a high tax penalty on workers who have paid large amounts into their pension funds it now seems likely that the proposed new lifetime cap will be raised. Under present plans workers would be able to pay up to £1.4 million into their pension funds before they would be affected by the tax charge of 33%. However business leaders and pensions experts now predict that this figure will rise to £1.8 million and that the number of people affected will fall...
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In the first of a regular feature the Pensions team at Norton Rose bring us up-to-date with the pensions news and provides a legislative update
Treasury reconsiders pension cap
After fierce opposition to the Government's plans to impose a high tax penalty on workers who have paid large amounts into their pension funds it now seems likely that the proposed new lifetime cap will be raised. Under present plans workers would be able to pay up to £1.4 million into their pension funds before they would be affected by the tax charge of 33%. However business leaders and pensions experts now predict that this figure will rise to £1.8 million and that the number of people affected will fall...
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:
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