Overview

Remember pensions tax “simplification”? The rationalisation of eight pensions tax regimes into one introduced in the Finance Act 2004 with effect from 2006 was never that – and the rules have become progressively more complex since then.

The latest layer of complication comes in the form of a 115-page consultation document issued last December setting out further details of the new rules, effective from 6 April 2011, to restrict higher rate income tax relief for pension savings of those with
high incomes.