ARTICLE · 24 MARCH 2010

Disappointment over failure to improve employment matters

Deloitte

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Aside from measures already announced - the introduction of the 50% tax rate from 6 April, restriction of higher rate tax relief on pension contributions and 1% increases in National Insurance (NI) from April 2011 - today's Budget announced a raft of measures to counter planning designed to mitigate some of these changes.

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Deloitte Tax Group

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Matt Ellis
Tax Partner

Aside from measures already announced - the introduction of the 50% tax rate from 6 April, restriction of higher rate tax relief on pension contributions and 1% increases in National Insurance (NI) from April 2011 - today's Budget announced a raft of measures to counter planning designed to mitigate some of these changes. As a result the options available for employers to deliver tax-efficient remuneration to their employees could narrow considerably in the future.

In his Budget statement, Alistair Darling signalled specific focus in three key areas - "Geared growth" share arrangements, Employee Benefit Trusts and alternative pension structures. Consultation on these areas will take place during summer 2010 with new legislation expected in April 2011.

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