Budget 2015 – Take Two

Published by Tyron Potts on

The Chancellor of the Exchequer’s second Budget of 2015 - the first of this new parliament – included a number of announcements in relation to the taxation of pension savings.

The tapered reduction in the Annual Allowance for high earners from 2016/17 may have seemed a straightforward proposal, but the transitional arrangements, the way in which the tapering is calculated, and consequential changes to ‘Pension Input Periods’ are likely to induce headaches for affected pension savers.