Advisers: work needed on pensions tax relief
People not necessarily treated the same under pensions tax relief, warn advisers
More work is needed on pensions tax relief plans to ensure a level playing
field, say advisers.
Tax relief on pensions could be restricted for those with total annual income
over £150,000, and some people could effectively lose out compared to others,
warn PwC.
‘Further consultation on new pension proposals outlined by the government is
the only way forward to ensure that in the attempt to achieve a level playing
field, consideration of the fundamental ‘pensions deal’ proposition is upheld,’
said PwC partner Alex Henderson, reports
tax-news.com.
People in that income bracket may not be exempt in times of unemployment, and
high earners for short periods of tie, for example sports stars, could be
restricted from the relief when not earning so much.