'More Treasury tweaking': Industry responds to Budget 2020 taper measure

But she warned: “It feels like a measure which won't materially affect the overall tax relief bill but will further erode people's trust in terms of ongoing tinkering with the pension rules."

Legislation will be introduced in Finance Bill 2021 to amend the threshold income to £200,000 and the adjusted income to £240,000, while also reducing the minimum tapered annual allowance from £10,000 to £4,000 for the highest earners (more than £300,000).

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