Budget 2009 _ Boost for Financial Assistance Scheme Payments
Published / Last Updated on 22/04/2009
Budget 2009 - Boost for Financial Assistance Scheme Payments
The Government announced that the Finance Bill 2009 will introduce changes to the way payments from the Financial Assistance Scheme are taxed.
Currently payments are subject to income tax, even if they would have been tax free from the registered pension scheme itself.
The new measures mean that payments from the Financial Assistance Scheme will be broadly the same than if the payment had come from the registered pension scheme.
Effectively, this means that if a payment could have been made tax free, it will be.
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