Snap election pressure bites as Treasury puts MPAA cut on hold

The policy, which was confirmed during the Spring Budget in March, came into effect on 6 April despite industry decrying it as "further damaging trust" in pensions. However, the government has now tabled an amendment to the Finance Bill to remove the clause as it aims to pass it ahead of Parliament's dissolution on 3 May. The clause is likely to be removed during a debate on the bill on 25 April. Its removal is likely to cause confusion for schemes, savers and advisers alike as advice will have been given, and taxes may have already been collected on the expectation the policy would b...