The Government announced last week that from 6th April 2011 full higher rate relief on pension contributions will be withdrawn for all those with income of £150,000 per annum or more.
The full detail has not been given, but of immediate issue is that complex draft legislation has been published that aims to stop those who are likely to be affected by these rules from taking advantage of the transitional period from Budget day to April 2011 by increasing their pension savings.
Read our Technical Bulletin for further information.