Pension changes - watch redundancy payments
Employers and employees need to watch out for the new provisions on pension contributions tax trap when negotiating redundancy arrangements, if (broadly) taxable income exceeds £130,000.
Once the £130,000 limit is reached then any sacrifice for pension contributions could result in an unexpected tax bill.
Cathy Corns is a tax adviser and a partner at Mercer & Hole. The views given in this blog are personal to the author, if you would like to discuss the contents of this post with Cathy you can call her on 01908 605552.
Date: 22nd January, 2010
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