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PBR 2006: Pensions Tax Changes

Stephen Degnan, a consultant with Alec Ure & Associates, takes a look at the further changes to the pensions tax regime announced in the Pre-Budget Report on 6 December 2006

 
Stephen Degnan a consultant with Alec Ure & Associates takes a look at the further changes to the pensions tax regime announced in the Pre-Budget Report on 6 December 2006
 
Finance Act 2004 introduced the new 'simplified' tax regime for pension schemes and savers to come into force on 6 April 2006. The legislation followed a lengthy period of consultation. Finance Act 2005 included a number of amendments arising out of that continuing consultation process. In Finance Act 2006 the Chancellor backtracked on a number of the 2004 provisions. He changed his mind about allowing individuals to use their pension...

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