Government announces transitional rules for annual allowance changes; PIPs to align with tax years - UPDATE 3
The 2015-16 tax year will be split into two mini tax years for the purposes of the annual allowance as part of transitional rules aligning pension input periods with the tax year, the government has announced.
In his Summer Budget today, the Chancellor announced that from 2016-17 onwards, the annual allowance for tax relieved pension savings would be reduced for those with incomes of over £150,000. It will...
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