Taxation logo taxation mission text

Since 1927 the leading authority on tax law, practice and administration

TAPIA turn off

22 September 2009 / Mark Morton , Andrew Burgess
Issue: 4224 / Categories: Comment & Analysis , Investments
MARK MORTON and ANDREW BURGESS plumb the depths of the pensions anti-forestalling legislation

KEY POINTS

  • The special annual allowance can be reduced to nil.
  • The meaning of relevant income.
  • Calculating the total adjusted pension input amount.
  • Protected pension inputs vary according to the type of pension.
  • Family companies and profit extraction.

An unexpected tax rise namely the intention to restrict relief on pension contributions to the basic rate of income tax was announced by the Chancellor on Budget day. He said that this change would take effect from 6 April 2011 for individuals with a taxable income of £150 000 or more.

Budget note 47 stated that the relief will be tapered out between £150 000 and £180 000 so that above that figure only basic rate tax relief will be available. However no more detail has been published as...

If you or your firm subscribes to Taxation.co.uk, please click the login box below:

If you are not a subscriber but are a registered user or have a free trial, please enter your details in the following boxes:

Alternatively, you can register free of charge to read a limited amount of subscriber content per month.
Once you have registered, you will receive an email directing you back to read this item in full.

Please reach out to customer services at +44 (0) 330 161 1234 or 'customer.services@lexisnexis.co.uk' for further assistance.

back to top icon