High earners should move fast before a tax break worth thousands of pounds a
year is removed, a senior member of the government has warned.
The Treasury is pushing for radical reform of tax relief on pension
contributions, The Times has learnt, raising fears of a new assault on
In the budget, George Osborne announced a consultation on the tax break, which
costs the Exchequer £35 billion a year, the equivalent of 8p on the basic
rate of income tax. The relief allows higher-rate taxpayers — those who earn
more than £42,386 — to save £1 into their pension for every