Rachel Vahey: Setting the scene for pension tax relief changes?

'A big change for HMRC'

clock • 4 min read

Rachel Vahey looks at the mechanics of solving the net pay anomaly and asks if the significant system build needed to facilitate it will pave the way for further, more significant pension tax relief changes...

As far as personal finance went, last month's budget was a quiet one. The bad news of a temporary increase to National Insurance contributions and creation of the new health and social care levy had been announced the month before, leaving the Budget free to be full of good news - from universal credit reform through to a reduction in the duty on prosecco. Another piece of good news was that over a year since the consultation had closed, HM Revenue & Customs (HMRC) had finally decided how to award very low earners paying into a pension the same amount of tax relief regardless of the type...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Pensions

Everything advisers need to know on MEES regulations and pensions

Everything advisers need to know on MEES regulations and pensions

'Commercial property still remains a highly attractive and favourable investment for the right client'

Caitlin Southall
clock 14 July 2026 • 4 min read
Retirees feel regret after rushing to take out tax-free cash

Retirees feel regret after rushing to take out tax-free cash

Chancellor urged to provide earlier clarity ahead of 2026 budget

Isabel Baxter
clock 02 July 2026 • 3 min read
Third Financial launches white-labelled SIPP

Third Financial launches white-labelled SIPP

Titan Wealth first client to use service

Jenna Brown
clock 29 June 2026 • 1 min read