Select committee slams Budget pension tax relief plans

The Treasury Select Committee says Government plans to restrict higher-rate tax relief on pension contributions for people with incomes over £150,000 from April 2011 was a "departure" from long-standing principles. And it said the government aim of reducing the amount of pensions tax relief going to higher earners could be achieved in a simpler way. In its report on the Budget, the committee said: "We note that this budget marks a departure from the long-standing principle that tax relief for pension contributions should be given at an individual's highest marginal rate. "We urge the ...