A-day has been part of my life for the last five years. I have been involved with its development, from its original launch in the Green Paper in December 2002 (Simplifying the taxation of pensions: increasing of choice and flexibility for all).
At that time, Gordon Brown and Ruth Kelly spoke of “sweeping away the existing pension tax regimes, and replacing them with a single lifetime limit on the amount of pension saving that can benefit from tax relief”. This was the first of three consultations on pensions tax simplification. And throughout all I was an optimistic fan of pensions simplification. I really believed in it. And I think I was right to. The Revenue certainly started on this road in the same mindset. Pensions tax simplification was going to be based on “simple, durable, and easily understood rules”. If pensions fitt...
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