MPAA reduction effective from April 2017, govt confirms
Cut to £4,000
The government has confirmed the pre-election policies in its 2017 Finance Bill that were due to take effect from April this year, including the cut to the money purchase annual allowance (MPAA), will apply as intended.
This means savers who have accessed their pension from age 55 will see the annual tax-free allowance cut from £10,000 to £4,000 for the 2017/18 tax year. The confirmation came in the form of the Finance...
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