Higher rate taxpayers face pension pot 'dent' under rumoured 25% flat rate relief

Basic rate taxpayers better off

Steven Cameron: "It would be good news for basic rate taxpayers who'd receive a more generous bonus but would create a big dent in the future pension pots of higher and additional rate taxpayers unless they increased their contributions."
Steven Cameron: "It would be good news for basic rate taxpayers who'd receive a more generous bonus but would create a big dent in the future pension pots of higher and additional rate taxpayers unless they increased their contributions."
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A new 25% flat rate on pensions tax relief would create a “big dent” in the pension pots of higher rate and additional rate taxpayers if it goes ahead, Aegon warns.

There are rumours that Chancellor Rishi Sunak is planning on reforming pensions tax relief so everyone receives a flat rate of 25%. If this happens, basic rate taxpayers will be better off while higher...

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