Five tax changes coming in tomorrow

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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 incre...

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