TaxPersonal TaxPensions tax talks welcomed by advisers

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

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

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