HM Revenue and Customs has announced that the disclosure regime has been amended to include any schemes that seek to avoid the special annual allowance charge (SAAC) introduced in the 2009 UK Finance Act.
The government has announced its intention to restrict, to the basic rate of income tax, tax relief on pensions savings with effect from April 6, 2011, for people with a taxable income of GBP150,000 or more.
The 2009 Finance Act introduced the SAAC, which is an anti-forestalling provision which seeks to restrict pensions tax relief for those high income individuals who increase their savings above their normal pattern of savings ahead of April 6, 2011.
Regulations have been made and laid and will come into effect on September 1, 2009. However, a transitional rule will require disclosure of schemes where the event that triggers a disclosure, under the normal rules, occurs between April 23, and August 31, 2009 inclusive.
The government has announced its intention to restrict, to the basic rate of income tax, tax relief on pensions savings with effect from April 6, 2011, for people with a taxable income of GBP150,000 or more.
The 2009 Finance Act introduced the SAAC, which is an anti-forestalling provision which seeks to restrict pensions tax relief for those high income individuals who increase their savings above their normal pattern of savings ahead of April 6, 2011.
The government has announced its intention to restrict, to the basic rate of income tax, tax relief on pensions savings with effect from April 6, 2011, for people with a taxable income of GBP150,000 or more.
The 2009 Finance Act introduced the SAAC, which is an anti-forestalling provision which seeks to restrict pensions tax relief for those high income individuals who increase their savings above their normal pattern of savings ahead of April 6, 2011.
The government has announced its intention to restrict, to the basic rate of income tax, tax relief on pensions savings with effect from April 6, 2011, for people with a taxable income of GBP150,000 or more.
The 2009 Finance Act introduced the SAAC, which is an anti-forestalling provision which seeks to restrict pensions tax relief for those high income individuals who increase their savings above their normal pattern of savings ahead of April 6, 2011.
Regulations have been made and laid and will come into effect on September 1, 2009. However, a transitional rule will require disclosure of schemes where the event that triggers a disclosure, under the normal rules, occurs between April 23, and August 31, 2009 inclusive.
The government has announced its intention to restrict, to the basic rate of income tax, tax relief on pensions savings with effect from April 6, 2011, for people with a taxable income of GBP150,000 or more.
The 2009 Finance Act introduced the SAAC, which is an anti-forestalling provision which seeks to restrict pensions tax relief for those high income individuals who increase their savings above their normal pattern of savings ahead of April 6, 2011.
The government has announced its intention to restrict, to the basic rate of income tax, tax relief on pensions savings with effect from April 6, 2011, for people with a taxable income of GBP150,000 or more.
The 2009 Finance Act introduced the SAAC, which is an anti-forestalling provision which seeks to restrict pensions tax relief for those high income individuals who increase their savings above their normal pattern of savings ahead of April 6, 2011.
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