The 2009 Budget introduced changes which will affect high earners (earning £100,000 or more) and the pension contributions that they might make. The reduction in the personal allowance and increase in income tax rate make pension contributions an attractive planning option. However, contributions may need to be carefully planned to avoid tax charges under so-called "anti-forestalling" measures.
AEGON Scottish Equitable have produced one of the clearest and most user-friendly explanations of the changes and its implications we have found.
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