HMRC proposes protection for savers hit by latest tax relief cut

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HM Revenue and Customs has launched a consultation on two new forms of protection for people caught unfairly by the government's most recent cuts to the lifetime allowance (LTA).

Chancellor George Osborne announced in the 2012 Autumn Statement that from April 2014, the LTA on tax relieved pension savings will reduce from £1.5m to £1.25m, and the annual allowance (AA) will f...

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