HMRC proposes protection for savers hit by latest tax relief cut

clock

HM Revenue and Customs has launched a consultation on two new forms of protection for people caught unfairly by the government's most recent cuts to the lifetime allowance (LTA).

Chancellor George Osborne announced in the 2012 Autumn Statement that from April 2014, the LTA on tax relieved pension savings will reduce from £1.5m to £1.25m, and the annual allowance (AA) will f...

To continue reading this article...

Join Professional Pensions

Become a Professional Pensions Lite Member today

  • Three complimentary articles per month covering the latest real-time news, analysis and opinion from the industry
  • Receive important and breaking news stories via our two daily news alerts
  • Hear from industry experts and other forward-thinking leaders

Join now

 

Already a Professional Pensions
member?

Login

More on Law and Regulation

How does your scheme culture affect your risk profile?

How does your scheme culture affect your risk profile?

Naomi Brown takes a look at the human factor and asks how risk links with culture

Naomi Brown
clock 20 June 2025 • 3 min read
Pension freedoms have delivered flexibility in the last ten years, but 'at a cost'

Pension freedoms have delivered flexibility in the last ten years, but 'at a cost'

AKG paper says consumers value choice but are aware of risk of running out of funds

Jasmine Urquhart
clock 11 June 2025 • 2 min read
Pension scheme reform: The key announcements

Pension scheme reform: The key announcements

PP summarises yesterday’s key government pension announcements

Jonathan Stapleton
clock 06 June 2025 • 2 min read
Trustpilot