There is already legislation in place that can reduce the amount of pension relief for additional rate (45%) tax payers to just £10,000 a year. Now, there is speculation that 40% or 45% tax relief will be scrapped altogether and a lower threshold set.

What to do?

Maximise contributions in 2015-16 and make full use of the ability to claim relief in this year for unused relief in prior years. Speak to your financial advisor as soon as possible to find out if you have any unused allowances available.