Tax relief on pension mis-selling payouts avoids Treasury axe

The government proposed in a May consultation to end the tax relief on compensation payments received for pensions mis-sold between 1988 and 1994. However, in the light of consultation responses the Treasury has decided not to levy income or capital gains tax on compensation payments, it was announced in a government response today. It was not known at the time of the proposal how many people had yet to come forward and claim compensation for pension mis-selling in the period. However, new evidence to the consultation, which closed in August, suggested up to 25,000 investors are st...