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Not only apples have PIPs

04 January 2011 / Roger Jones
Issue: 4286 / Categories: Comment & Analysis , Investments
ROGER JONES looks at nuances in the draft legislation that will put into effect the annual allowance charge in 2011/12


  • Higher rate relief on pension contributions to be restricted.
  • Effect of reducing the annual allowance.
  • Timing of pension input periods.
  • Bringing forward unused allowances.
  • Changing the pension input period.

Readers do not need long memories to recall that in the early years of the new millennium we were promised ‘pensions simplification’. This was because there were eight different schemes of tax relief in relation to pension provision. All would be swept away and replaced by a single comprehensive scheme. What we have now is different but by no means simple.

The original legislation was included in FA 2004 but to give relevant parties time to prepare for it it was not introduced until 6 April 2006 known colloquially as...

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