In his 2009 Budget the Chancellor made a small scale raid on pension plans in his attempt to fill the UK’s public finance black hole. From April 2011, individuals with annual income over £150,000 will no longer receive marginal rate tax relief on pension contributions. Instead, relief will be restricted, tapering to 20% for those earning £180,000.
24/04/2009
UK Budget: The beginning of the end for higher-rate tax relief on pensions contributions?
In his 2009 Budget the Chancellor made a small scale raid on pension plans in his attempt to fill the UK’s public finance black hole. From April 2011, individuals with annual income over £150,000 will no longer receive marginal rate tax relief on pension contributions. Instead, relief will be restricted, tapering to 20% for those earning £180,000.
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