How might flat rate tax pension relief affect salary sacrifice schemes?
8 months ago

How might flat rate tax pension relief affect salary sacrifice schemes?

Daily Mail  

Pension speculation: If Labour brought in flat rate tax relief, what impact would it have on work schemes How would a flat rate pension relief work with a salary sacrifice workplace pension? If Labour were to introduce a flat rate pension tax relief how would this work for me where my pension comes out of my salary pre-tax? Ian Cook, chartered financial planner at Quilter Cheviot, replies: The possibility of a flat rate pension tax relief is a complex topic, and its implementation would be even more complex. For instance, if a flat rate of 30 per cent were introduced, all pension contributions would receive this level of relief, rather than the current system where relief corresponds to your marginal tax rate.

Salary Labour Changes Flat Tax Relief Cent Rate My Pension Salary Sacrifice Pension Tax Relief Pension Contributions Pension Tax Contributions Based Relief Pension Relief Pension Tax Sacrifice Schemes  relief  pension  tax  affect  contributions  based  salary  rate  flat  cent  sacrifice  schemes  changes

History of this topic

Chancellor may raid tax relief on pension savings of 6m higher earners, warns Steve Webb
7 months ago

Chancellor may raid tax relief on pension savings of 6m higher earners, warns Steve Webb

Daily Mail  

Rachel Reeves will be 'eyeing up' a raid on the pension savings of up to six million higher earners after figures showed the cost of providing tax relief surged. A huge chunk of any potential savings to the Treasury from a pension tax relief raid would come from defined benefit schemes, the majority of which now reside in the public …

Treasury urges Chancellor to target pension savings of 6m middle-class workers
8 months, 1 week ago

Treasury urges Chancellor to target pension savings of 6m middle-class workers

The Telegraph  

The think tank said this “substantial increase” in tax would be shouldered almost exclusively by the top 20pc of earners, with the top 10pc facing an average hit of £4,300. The bottom 80pc, who largely receive basic income tax relief on pension contributions, would experience little to no change, the IFS said. Experts said a 30pc tax rate would force …

Pension changes: how flat rate tax relief could affect you
9 years, 2 months ago

Pension changes: how flat rate tax relief could affect you

The Independent  

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