A taxing issue

In December 2002, the Government published its first consultation document suggesting the current taxation of pensions in the UK should be simplified. Apart from a few minor exceptions, the rules are now set in stone and ready to come into effect on 6 April 2006. Coined A-day, this day is expected to bring about the most radical changes ever to pension provision in the UK, as the British pension system will see its current eight tax regimes moulded into one. While there is an exhaustive list of changes that will come into effect, there are a number of issues that have been widely discusse...