Pensions Tax Simplification delayed to 2006


In his Budget speech, the Chancellor, Gordon Brown, confirmed that he will proceed with his plans to replace the current eight pensions tax regimes with one set of uniform rules applicable to all. His announcement follows the publication of the National Audit Office’s (“NAO”) report on 9 March 2004, responding to specific questions raised by the Chancellor regarding the number of people who may be affected by the new measures.

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