VAT treatment of refunds made by manufacturers - CIOT comments

6 Jul 2017

The Government announced on 5 December 2012 that to support its objective of a system of pensions tax relief that is fair, affordable and sustainable, for 2014-15 onwards the Annual Allowance would be reduced from £50,000 to £40,000 and the Lifetime Allowance would be reduced from £1.5 million to £1.25 million.

This consultation document (con doc) set out the framework of how individual protection 2014 will work, and requested views on aspects of the detail of this protection regime and the draft legislation.

This con doc and the CIOT response are available below in Adobe (PDF) format.

Technical Team 2 September 2013