Quarter of a million GPP members miss out on higher rate tax relief

The life and pensions firm says many members of group personal pensions - including employers backed GPPs and stakeholders - are only taking advantage of half of the tax relief they are due. There are nearly 3m higher rate taxpayers in the UK and Standard Life estimated a quarter of a million people do not claim higher rate tax relief. The firm says such schemes automatically give individuals basic rate tax relief, but it is up to them to reclaim higher rate relief if they are eligible. However, for the many people who don't complete a self-assessment this requires action on their par...