Where's it gone?

KEY POINTS

• State second pension adjustment.
• Life insurance tax changes.
• Planning gain supplement in abeyance.
• More consultation on appeals.

Following on from the first part of our review of the tax measures announced in the Pre-Budget Report this article deals with some of the remaining measures announced by the Chancellor of the Exchequer on 9 October. In addition to wondering where some of the tax reliefs have gone some tax (or at least National Insurance) payers may be wondering where some of their pension benefits have disappeared to.

State second pension

Legislation will be introduced to bring forward the introduction of the upper accrual point (UAP) for the state second pension (S2P) which was prescribed in the Pensions Act 2007 to 6 April 2009.

The Government states that the reforms to S2P should then take place...