Rachel Vahey: Setting the scene for pension tax relief changes?

'A big change for HMRC'

clock • 4 min read

Rachel Vahey looks at the mechanics of solving the net pay anomaly and asks if the significant system build needed to facilitate it will pave the way for further, more significant pension tax relief changes...

As far as personal finance went, last month's budget was a quiet one. The bad news of a temporary increase to National Insurance contributions and creation of the new health and social care levy had been announced the month before, leaving the Budget free to be full of good news - from universal credit reform through to a reduction in the duty on prosecco. Another piece of good news was that over a year since the consultation had closed, HM Revenue & Customs (HMRC) had finally decided how to award very low earners paying into a pension the same amount of tax relief regardless of the type...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Pensions

First three firms complete pensions dashboards ecosystem connection

First three firms complete pensions dashboards ecosystem connection

Heywood, L&G and Pension Fusion have completed final stages required to connect

Holly Roach
clock 05 March 2025 • 1 min read
Post-Budget IHT planning: Gifting options in light of pension changes

Post-Budget IHT planning: Gifting options in light of pension changes

Withdrawals need to be spent, sheltered or gifted

Andrew Tully
clock 03 March 2025 • 4 min read
Pension transfers: Transparency vital in push to raise standards

Pension transfers: Transparency vital in push to raise standards

A glass half full for pension transfers?

Anthony Rafferty
clock 28 February 2025 • 3 min read