Spring 2011 Newsletter Content Leading article... Anything up his sleeve? General tax... Relaxed association File under 'e' Research costs? Give early A tax on houses Pension changes Holiday entitlement EISy money VAT... 20:20 vision Horses for courses? Do it yourself That's entertainment All in the contract? Where am I? Law items... What's in a title? The privileged few Called to account Don't mince words

Pension changes Two years ago Mr Darling proposed to limit pension relief for people with incomes over £150,000. The new rules would be complicated, and they would only kick in on 6 April 2011. We've been dealing with even more complicated rules which were aimed at people who paid big contributions in advance to beat the restriction. Mr Osborne has decided to make a different change. In some ways it's simpler – the basic idea is that anyone can put £50,000 a year into an approved pension scheme and enjoy tax relief at their marginal tax rate, whether that's 20%, 40% or 50%. That will apply from 6 April – up to then, we still have the rules about large contributions that Mr Darling left us. For the great majority of people, the new rules won't pose a problem – £50,000 covers their annual contributions. For people who put in more, it will be important to check the consequences. The most difficult cases are people lucky enough to be in final salary employer schemes. If they get a pay rise – say a big promotion – their pension entitlement will jump, and the rules will tax them as if their employer made a big payment to secure that increase. If you are one of the people affected, we can explain how to make the most of the new rules. Meanwhile, anyone with an income over £130,000 who is thinking of paying pension contributions totalling over £20,000 in the year to 5 April 2011 should take advice on the application of Mr Darling's rules.