In recent times, UK Governments have never failed to resist the temptation to modify the pensions tax regime - and this year is no exception! For the third time in four years, the Government is reducing the maximum pension accumulation (known as the Standard Lifetime Allowance “SLA”) that can be accumulated without tax for an individual – unless some “Protection” is in place...... Read more

George Osborne in his 8th July 2015 Budget proposed radical changes to wealth and pensions taxation. These changes must be viewed in the context of the other dramatic taxation reforms, legislated in 2014, which permit full lifetime access to money purchase pension pots - plus the ability to leave pension savings, either tax free on death before age 75 - or subject to margina...... Read more

Further to our recent email following the Chancellor's Autumn Statement, we wish to advise you that the Taxation of Pensions Bill received Royal Assent on 17 December 2014 and is now an Act of Parliament. The full text of the Act was published on the 19 December 2014 and the principal provisions will take effect from 6 April 2015.