Dec 05 2012

Autumn Statement 2012

General News

In his 2012 Autumn Statement today the Chancellor of the Exchequer announced changes to the pensions tax regime – again!  The majority of these changes will take effect from 6 April 2014.  The position will be clarified further when enabling draft legislation is published next week.

It is clear, however, that there will be a concentrated opportunity for pensions and contributions planning and efficiency over the next 16 months.   We will liaise with you and your other professional advisors with a view to ensuring that you obtain the maximum possible advantage.

A:     CHANGES

We summarise the key changes below:

  1. A change to the Standard Lifetime Allowance (SLA)
  2. Fixed Protection 2014
  3. Personalised Protection
  4. A fall in the Annual Allowance (maximum pension contribution rate)
  5. A rise in the Capped Drawdown Limits on pensions in payment

To see the full article please click here.