Part 4: Income tax, corporation tax and capital gains tax Section 23 and Schedule 4: Pensions: annual allowance Summary
This section and Schedule 4 restrict pensions tax relief for high-income individuals by introducing a tapered annual allowance with effect from 6 April 2016. It also amends the period over which pension savings are measured so that from this date pension savings will always be measured over a tax year. It also introduces transitional rules from 9 July 2015 intended to smooth the aligning of pension savings with the tax year.