Tomorrow marks the start of the tax year, and it also marks the day a number of pieces of pensions legislation come into force.
It follow's Monday's green paper revealing details of the £140 single-tier state pension. Pension changes effective from 6 Apr: 1). Pension contribution cap for many high earners rises from £20k to £50k However high earners can use ‘carry forward' to pay in up to £200k Like this year up to 50% tax relief is available on pension contributions (60% for some) Higher National Insurance rates make salary sacrifice more attractive 2). Tomorrow marks the 10th anniversary of the universal £3,600 pension allowance (for non-earning spouses and children), but it has never been increa...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes