Taxflash: Last chance to make pension contributions?

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One of the effects of the 2009 Budget will be to prevent those with relevant income above £180,000 being able to obtain higher rate tax relief for their pension contributions from 6th April 2011. Consequently, HMRC have also introduced transitional provisions, which limit pension relief in 2009/10 and 2010/11 for those with relevant income of £150,000 or more in either of those years or earlier.

If your annual income is, or has been, around £150,000 or more, or you are planning to pay more than £20,000 in pension contributions (including those paid by your employer), you should seek advice.

Published on 7 August 2009

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