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...

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