| Amendments to the Finance Bill |
|
These ammendments can be summarised as follows. - Special annual allowance increased from £20,000 to £50,000 - Allowable pension deduction when working out relevant income increased from £20,000 to £50,000 - No longer need to look back at the last two years earnings - Annual contributions,including recurring singles, will count as regulars (though have to take a three year average) - The rules won't apply to those aged 50 or older. Note - these are amendments to a draft Bill. The Finance Bill usually becomes an Act in July just before those Member of Parliament types head off for their summer hols - possibly 23rd July. I will post again with further details. Jaime |
