Tax simplification – the hidden costs


From “A-Day” (6 April 2006), the eight tax regimes applicable to occupational and personal pensions will be replaced by a single uniform set of allowances. But what effect will stripping away current Inland Revenue limits have on pension promises? Whilst A-Day may seem a long way off, trustees and employers of occupational pension schemes need to start considering the potential ramifications of this question now. Here we briefly consider why.

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