News

Find out what’s happening at Sackers. Our News section provides information about recent work, press comment and media coverage, and what our people are doing.

Latest News

Finance Bill 2012

Introduction On 6 December 2011, the Government published the draft Finance Bill 2012. The Bill includes the changes to asset backed contributions1 announced in theAutumn Statement on 29 November 2011 as well as a number of other...

Pensions Tax Relief and the Order of the Finance Act

Introduction It has been announced today that the Finance Act 2011 received Royal Assent on 19 July 2011. The Act brings onto the statute books significant changes to pensions tax relief, including legislation to reduce the AA with effect...

The Finance Bill rides again

Introduction The third Finance Bill of the 2010/11 Parliamentary session was formally published on 31 March 2011, and will ultimately implement the Coalition Government’s plans for restricting pensions tax relief which were first...

To the Budget 2011… and beyond!

Introduction Changes to pensions tax relief have been headline news since the former Labour Government first announced restrictions in April 2009. Since then, proposals for limiting relief have undergone significant changes, culminating in...

Annual Allowance charge payment option confirmed

Introduction The reduced AA of £50,000 from the tax year 2011/12 will inevitably affect a greater number of pension savers than the current AA of £255,000. Following aconsultation1 in the autumn, the Government has now set out how...

The perils of Pension Input Periods

Introduction What is a PIP? A “pension input period” (PIP)1 is used to assess annual increases in the value of members’ pension savings for the purpose of testing against the AA. Increases are measured against the AA for the tax...

Consultation on options to meet high annual allowance charges: Sackers’ Response

Background The joint HMT / HMRC consultation (published on 30 November 2010 ) on “Options for meeting high annual allowance charges from pension benefits” (the Consultation), sets out two broad options (aimed primarily at DB schemes)...