Tax campaigner Richard Murphy has turned his sights on the private pensions industry to highlight how tax subsidies are draining resources from the public purse.
Business groups have embraced government plans to reduce the annual pension allowance to £40,000 but implementation issues remain, warn experts.
Diana Bruce offers a round-up of the key payroll legislation changes this month.
The Institute of Payroll Professionals’ Karen Thomson outlines some of the key changes to pensions to come from the recent Budget.
Graham Duckett explores the importance of planning for retirement and what the budget has meant for pensions.
The Institute of Payroll Professionals’ Diana Bruce offers a rundown of the key payroll and benefits measures in the Emergency Budget.
A new annual allowance of £30,000 - £45,000 will be introduced, while tax relief will continue to be given at the marginal rate.
Only a small proportion of businesses have taken steps to prepare for 2012 pension reforms, despite the considerable preparations and potential cost required to implement auto-enrolment.
Both the Liberal Democrats and Conservatives have called for a reform of public sector pensions but cutting back on them will cost taxpayers £8bn, according to CIPFA’s Bob Summers.
A number of new regulations came into force at the start of the new tax year on 6 April, so below is a reminder of some of the key tax changes and payroll highlights.