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High Earners get limit raised to £30,000
Published on 14th August, 2009 at 14:52 by Eric Mowinski.
The Finance Act received Royal Assent in July but there was an important amendment.
An announcement earlier in the year limited the amount of tax relief higher earners (those with earnings above £150,000 in the current or two previous tax years) could receive on pension contributions.
The rules are complex but it effectively limited the amount to the greater of £20,000 per annum or the level of regular contributions being made prior to 22nd April 2009.
A late amendment to help those who who make irregular contributions has increase the maximum to £30,000 p.a.
Posted under the following tags: pensions, investments, financeact.
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