The coalition government has announced that legislation is to be introduced restricting tax relief on contributions to a level well below the present £255,000 from 6th April 2011. The government is suggesting that the present annual allowance for contributions of £255,000 may be reduced to around £30,000 - £45,000. Whilst no definate legislation has been introduced yet it is critical that clients looking to make substantial contributions consult us first.
More will follow when we have details of the forthcoming legislation.
Sunday, 8 August 2010
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