Possible U-Turn on Pensions for High Earners

There have been many stories in the press about GPs and senior hospital doctors refusing to take on extra shifts and additional responsibilities due to the additional tax they are required to pay on the extra pension contributions paid by the NHS.

A number of solutions have been put forward.

There are now strong rumours that the tapering of the annual pension allowance for those with income over £150,000 may be abolished or amended for all taxpayers, not just those working in the NHS.

Listen out for a possible announcement in the Spring Budget, together with other changes to pension tax relief.

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For more information, updates and queries relating to announcements made about the Budget, our tax experts at Progress Accountants are available to provide guidance through the tax maze and help provide solutions to ensure that you and your business are as tax efficient as possible.

For more information, please contact us on:

Telephone: 020 7112 8300

Email: info@assureuk.co.uk