Finance Act 2010 Explanatory Notes


1.Section 24 and Schedule 2 introduce a restriction of pension tax relief to the basic rate for high income individuals, to be known as the “high income excess relief charge”. The charge arises in respect of pension contributions and benefits for individuals whose income, including employer contributions, is £150,000 or more, subject to a floor so that only individuals whose income (excluding employer contributions) is £130,000 or more are affected.

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