We summarise below key features of the Government’s proposed changes to the UK pensions tax regime, as set out in draft clauses of Finance Bill 2011, published on December 9th 2010 – and which will affect you!
We have identified the areas which will be affected by the proposed changes as set out below.
- Maximum tax relieved pension contributions from 6th April 2011
- Maximum Benefits after 6th April 2011 including:
a) The Standard Lifetime Allowance after 6th April 2012
b) Pensions after 6th April 2011
c) Death Benefits after 6th April 2011