High-Earning Contractors to Lose Pension Tax Relief


	High-Earning Contractors to Lose Pension Tax Relief

oscruft

6-10-2009 4:47 AM

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oscruft says:

High-earning UK contractors are set to have their ability to financially plan for retirement penalised by new tax laws.

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/4dddf0ac-a0b5-4231-910c-e5711a448a9d/A44FD851-682A-48CF-8DCE-865B30D3140D/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://www.freelancesupermarket.com/news/2008/06_2009/high-earning-contractors-to-lose-pension-tax-relief.aspx" href="http://www.freelancesupermarket.com/news/2008/06_2009/high-earning-contractors-to-lose-pension-tax-relief.aspx" style="font-size: 11px;">www.freelancesupermarket.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.freelancesupermarket.com/news/2008/06_2009/high-earning-contractors-to-lose-pension-tax-relief.aspx">Hig</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.freelancesupermarket.com/news/2008/06_2009/high-earning-contractors-to-lose-pension-tax-relief.aspx">Hig<IMG 
style="BORDER-BOTTOM: #ffffff 0px solid; POSITION: relative; BORDER-LEFT: #ffffff 0px solid; PADDING-BOTTOM: 0px; MARGIN: 0px 0px -3px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; DISPLAY: inline; FLOAT: none; CLEAR: none; BORDER-TOP: #ffffff 0px solid; BORDER-RIGHT: #ffffff 0px solid; PADDING-TOP: 0px" 
border=0 name=Clipmarks_SelectionBounds 
src="http://content0.clipmarks.com/images/selection-right.gif" 
clip-index="0">h-Earning Contractors to Lose Pension Tax Relief</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.freelancesupermarket.com/news/2008/06_2009/high-earning-contractors-to-lose-pension-tax-relief.aspx"><H2 aria-level="0" aria-posinset="0" aria-setsize="0">High-earning UK contractors are set to have their ability to financially plan for retirement penalised by new tax laws.</H2></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.freelancesupermarket.com/news/2008/06_2009/high-earning-contractors-to-lose-pension-tax-relief.aspx">
<P>Tony Harris from Contractor Financials, Independent Financial Advisors (IFAs) 
comments, “Until now, contractors have legitimately used pension contributions 
to invest tax efficiently and to plan for their retirement – a strategy strongly 
encouraged by a government keen to get people to save for their futures.” He 
continues, “Removing and reducing tax relief sends some very mixed messages. 
This is especially concerning as there’s an element of <STRONG><A 
href="http://www.freelancesupermarket.com/forum/showthread.php?t=182">retrospective taxation</A></STRONG> which is 
against long-established principles of taxation policy. </P></blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/A44FD851-682A-48CF-8DCE-865B30D3140D/blog/" title="blog or email this clip"><img src="http://content9.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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