Don’t sacrifice that tax-relief
January 24th, 2011We reported in November that the Labour Government’s complex anti-forestalling rules for restricting tax-relief on pension contributions for large earners had been overturned and repealed by the Coalition (see here for full details).
The change though is not effective until April 2011 so the anti-forestalling rules still apply and it is worth reminding any high-earners that large payments into pension before 6th April 2011, such as bonus sacrifice, may not necessarily attract the full level of tax-relief expected and could be as low as 20%.
EBS is available to provide specialist advice for employees, click here for full details of our Tax Clinic Service.
