Pensions tax talks welcomed by advisers

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

“Many details still need to be resolved, but we are pleased the government is
taking our proposals on board.”

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