Thousands face unexpected tax bills due to 'complex' annual allowance taper
'Fiendishly' hard to understand
Nathan Long: "The rules for higher earners wanting to pay into pensions are now fiendishly complex."
Rules restricting tax relief on pension contributions for people earning over £150,000 are 'fiendishly complex' and will result in unexpected bills, Hargreaves Lansdown has warned.
The tapered annual allowance for high earners came into effect in the 2016/17 tax year meaning high earners who have inadvertently overpaid will face surprise tax bills as they file returns by 31 January....
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