PBR: Higher rate tax restrictions to hit 150,000

In his pre-budget report, Alistair Darling announced higher-rate tax relief restrictions - originally announced in April's budget - will now include employer contributions and affect those with relevant income of £130,000 and over rather than the previously announced figure of £150,000 and over. This will effectively mean anyone with income of £130,000 or more will not receive higher-rate tax relief on their contributions. A statement by The Treasury confirmed: "From April 2011 tax relief on pension contributions will be restricted for individuals with gross incomes of £150,000 and ov...