Labour policy to raise income tax could see tapered allowance cut

James Phillips
clock • 2 min read

Labour's proposal to raise income tax for higher earners could result in industry "horror" with the annual allowance taper being slashed by £70,000, Hargreaves Lansdown has warned.

The taper currently means those who earn over £150,000 have their annual allowance for pension contributions reduced by £1 for every £2 earned, up to a maximum of £30,000. With the annual allowance...

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James Phillips
Author spotlight

James Phillips

Professional Pensions journalist from 2016-2022

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