Budget 2010: Treasury rejects industry pleas over tax-relief restrictions

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The government has rejected industry pleas to change the way it will implement pensions tax relief restrictions.

In his Budget, Alistair Darling confirmed he would retain the restrictions originally announced in last year's budget and expanded in December's Pre-Budget Report. Darling confirmed: "Tax relief on pensions will be restricted but only for those earning £130,000 a year." The Treasury also published a summary of the responses it received on its consultation on implementing the restriction of pensions tax relief - and outlined the Government's response and the next steps for developing the restriction ahead of its introduction in April 2011. But it rejected pleas from the pensions ind...

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