The government has introduced anti-avoidance measures to stop people using salary sacrifice to ‘lower' their salary to get around the lower annual allowance for high earners.
Industry figures have warned the green paper on pensions tax relief published last week is "not a genuine consultation" as the government has already decided on the outcome.
George Osborne's call for radical thinking on pensions tax relief could solve the problem "once and for all" but there are huge policy issues to overcome, industry experts have said.
The government has delayed the launch of a secondary annuity market amid concerns about consumer protection, it has said in its Budget document out today.
The personal allowance, the level before tax is paid on income, will increase to £11,000 next year, the Chancellor has said, a year earlier than previously announced.
High earners have had the tax relief on their pension contributions cut in today's Summer Budget.
George Osborne has confirmed the inheritance tax (IHT) threshold will increase to £1m for couples funded by a pension tax relief cut for people earning more than £150,000.
Welcome to Professional Adviser's as-it-happened coverage of the summer Budget 2015 - with a slant, as always, towards those announcements, issues, outcomes and views affecting UK financial advisers...
Five key announcements advisers can expect from George Osborne
The Chancellor George Osborne is set to confirm an increase in the inheritance tax (IHT) threshold to £1m per couple in this week's Budget.