Pensions tax talks welcomed by advisers
Moves to work out pensions tax relief welcomed by advisers, but there is still a long way to go
Moves to work out pensions tax relief welcomed by advisers, but there is still a long way to go
Accountants and employee benefits experts have welcomed the government’s
efforts to reach a compromise on taxing high earners’ pensions contributions.
HM Revenue & Customs and the Treasury are jointly handling a consultation
on pension tax reliefs, after plans floated by the last government were roundly
criticised for being highly complicated and expensive.
Vincent Oratore, president of the CIoT said: “The review of the proposed
changes to pensions tax relief is especially welcome.
We all understand that pensions tax relief is going to be curtailed, but
there has to be a simpler way than the complex and costly system previously
legislated for.”
Joanne Segars, chief executive of the National Association of Pension Funds
said:
“Many details still need to be resolved, but we are pleased the government is
taking our proposals on board.”
Further reading:
Cameron
pledges tax reform to woo Lib Dems
More about:
The numbers you crunch tell a story. Your expertis...
14yEmbracing user-friendly AP systems can turn the tide, streamlining workflows, enhancing compliance, and opening doors to early payment discounts. Read...
View articleOrganisations can enhance their financial operations' efficiency, accuracy, and responsiveness by adopting platforms that offer them self-service cust...
View articleIn a world of instant results and automated workloads, the potential for AP to drive insights and transform results is enormous. But, if you’re still ...
View resourceDiscover how AP dashboards can transform your business by enhancing efficiency and accuracy in tracking key metrics, as revealed by the latest insight...
View articleATT technical officer, David Wright, considers the implications of HMRC’s decision to remove employees with income between £100,000 and £150,000 from ...
View articleThis was the fourth largest borrowing year since records began in 1993 Read More...
View articleAccountants with contractor clients must take practical steps in an attempt to fly under HMRC’s radar Read More...
View articleAre taxpayers aware of their self-assessment obligations before they come to you? In a consultation due to close shortly, HMRC is looking at whether t...
View articleATT technical officer, Emma Rawson, takes a look at HMRC’s new call for evidence which explores potential reforms to how and when individuals with pro...
View articleTax managers warn of complexities in HMRC’s WFH tax allowances Read More...
View articleHMRC has experienced an increase in its revenue due to further investigations in the year 2018/19. Read More...
View articleLast year, HMRC imposed a record £860m in penalties on individual taxpayers, up 24% from £694m in 2017/18, according to accounting group UHY Hacker Yo...
View article