Birminghalm Mail
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HMRC has tweaked pension tax rules - with a change from September 1. The taxman, now working under the Labour Party government, changed things two months back, introcucing stricter rules for claiming pension tax relief.
It now requires everyone to provide evidence when claiming higher or additional rate relief. Previously, only those contributing over £10,000 per year were required to provide proof.
This change primarily affects pension savers in “relief at source” schemes and personal pensions such as Self-Invested Personal Pensions (SIPPs). To claim higher relief, you will need to provide HMRC with evidence of your pension contributions during the tax year.
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