The Government’s alternative proposals to restrict pensions tax relief are an improvement on the previous administration’s rules but there are still issues to be resolved to make them workable, said the CIOT.
The National Association of Pension Funds (NAPF) has welcomed the Government’s alternative proposals to restrict pensions tax relief for those on higher incomes, but warned that ‘unintended consequences will punish savers who are not high earners’.
Neville Bramwell and Olivia Biggs provide analysis on pension schemes and the ‘alternative approach’
Karen Clark on pensions tax relief
Leonie Kerswill on furnished holiday lets
Richard Clarke and Jessica McLellan explain why any taxpayer with current cross-border activities should be aware of the new penalty regime for offshore funds
Speakers offer authoritative updates on PTCs and FLPs, QROPS, and EBTs and EFRBS
The Child Trust Funds (Amendment No. 3) Regulations, SI 2010/1894, provide for the phasing out of government contributions.
Radical reforms to the PAYE system, saving employers an estimated £500 million, are among proposals set out in nine tax policy documents released ‘for discussion and consultation’ as Parliament rose for the summer recess.
Shadow Treasury Minister Angela Eagle observed that clause 5 of the Finance Bill ‘completely takes away’ the Labour Government’s policy of restricting tax relief on pension contributions for those earning £150,000 or over, who are ‘the top 2% of earners in the country’.