UK - The government has announced it will introduce legislation in the Finance Bill 2011 to reduce the annual allowance from £255,000 ($402,000) to £50,000 and the lifetime allowance from £1.8m to £1.5m.
Documents released by the Treasury today as part of the Finance Bill 2011 confirmed the reduced annual allowance will have effect for the tax year 2011-12 and subsequent tax years. The reduced l...
To continue reading this article...
Join Professional Pensions
- Unlimited access to real-time news, analysis and opinion from the industry
- Receive our in-depth monthly magazine in either print or digital format
- Access our Sustainable Investment Hub covering news and opinion from thought leaders in the ESG space
- Receive important and breaking news stories selected by the Editors in our daily newsletter
- Hear from industry experts and other forward-thinking leaders
- Receive a monthly members-only newsletter with exclusive opinion pieces from leading industry experts and a feature from the magazine in advance of its release date