Pensions annual tax relief taper

gadgetmind

I'm now dropping to a 4 day week to avoid this madness. I avoid the Personal Allowance claw back, avoid pension annual allowance tapering, and so avoid £20k pa in tax. I've run the numbers several times, and with these new measures, I was affectively working that extra day but seeing none of the money myself.

Sod them.

EdSwippet

gadgetmind wrote: »

I'm now dropping to a 4 day week to avoid this madness... Sod them.

I'm dropping to a zero-day week :-) Similar reasoning, though in my case the catalyst is the short notice lifetime allowance reduction (which I might have been able to somewhat sidestep through some nifty crystallization finagling if not for the new taper rules which stymie my hope of recovering the reduction in allowance through future contributions).

And seconded, sod them.

gadgetmind

Given that a lot of people are responding the same way, I think that HMG's "tax them until the pips squeak" strategy is going to bring in significantly less tax.