Chancellor Rishi Sunak promised to do “whatever it takes” to support the economy as concerns grow about the significant impact of the Coronavirus. But what were the other main areas of interest for Professional Adviser readers?
1. Tapered annual allowance raised by £90,000 The tapered annual allowance has been 'significantly increased' by the Chancellor after the previous rules left senior NHS staff with hefty pension-related tax bills due to working extra shifts. Sunak said in his Budget speech: "The pensions tax system is preventing doctors taking on more hours. To significantly reduce the amount of people the tapered annual allowance affects, I am increasing the taper threshold by £90,000 removing anyone with income below £200,000. "Based on their vital work for the NHS, that will take around 98% of co...
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