The Treasury Select Committee issued its report to the Government in March 2021 called “Tax After Coronavirus”. As part of the report, it included proposals for changes to pension tax relief.
Historically, changes to pensions tax relief have been on the agenda for 6 years now. It goes way back to when George Osborne was Chancellor and changes were postponed due to the Brexit referendum result.
We suggest given Brexit and then the Covid-19 pandemic, the British Government wants a period of stability to rebuild the economy and indeed a greener economy post covid-19.
Pension tax relief changes will not happen just yet but make no mistake, they are definitely on the agenda.
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