The proposed reduction in annual and lifetime allowances planned for April 2016 is causing a headache for many employers and employees.
If there is any possibility that this could be reviewed as Ian King is suggesting, surely employers and those who may be impacted would be grateful and heave a huge sigh of relief.
Urge the scrapping of the planned taper on pension contributions for earnings of over £150,000 This looming move is hideously complex and has payroll departments nationwide tearing out their hair. Combined with the lifetime allowance on pension contributions, it is also illogical (why should someone earning£150,000 be able to pay £40,000 into their pension annually and someone earning £210,000 just £10,000?) and creates a marginal tax rate of 67.5 per cent. It also smashes apart the notion that pension contributions should not be taxed twice. Sadly, as the wretched thing was introduced by Mr Osborne, there is little chance of it being scrapped.