Govt tax changes will boost need for pension reviews - Standard Life

Dave Downie, technical manager at Standard Life, said that the 12 or 18-month notice of changes to tax law mean advisers are given far more time to plan for their clients and so should sell a yearly tax review in a bid to boost their proposition and their business more generally. Key areas to look at this year, according to Downie, are: the reduction of the 50% tax rate to 45% the fact that the main rate of corporation tax will be cut from 25% to 23% as of April 2013, and then 23% to 21% in April 2014 the fact that the annual pension allowance will be reduced to £40,000 from £50...