Treasury confirms tax relief legislation

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UK - The government has announced it will introduce legislation in the Finance Bill 2011 to reduce the annual allowance from £255,000 ($402,000) to £50,000 and the lifetime allowance from £1.8m to £1.5m.

Documents released by the Treasury today as part of the Finance Bill 2011 confirmed the reduced annual allowance will have effect for the tax year 2011-12 and subsequent tax years. The reduced l...

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