| Pensions Provision |
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After the major change a few years ago to the way that pension contributions and tax relief interact and the maximum that may be paid into pension plans during your lifetime there has been a further change as from 6th April 2010. A taxpyaer will still be able to invest in a tax year an amount equal to their total earnings that year and receive tax relief on the whole amount but there are new (very complex) restrictions affecting those with income over £130,000 pa.
The general rule remains that pension plans continue to be a tax efficient method of saving for most individuals. Those with large pension provisions should review their plans to maximise tax efficiency under the new rules. |
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| Last Updated ( Tuesday, 29 June 2010 ) |
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