PBR: Tax restrictions 'put long-term saving at risk'

Today's Pre-Budget Report revealed 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. The Report also states: "Tax relief will gradually be tapered away so that above £180,000 it is worth 20%, the same rate received by a basic-rate income taxpayer." As many as 150,000 additional people will be caught out by the extension of higher-rate tax relief restrictions, according to Standard Life. Rac...