Draft Finance Bill 2017: Pensions Advice

The LITRG welcomes the broad definition of ‘relevant pensions advice’ under the proposed regulations so that it might include ‘tax issues relating to pensions’ but are concerned that the qualifying £500 exemption sum is too limited and will not go very far in paying for expert advice. We strongly recommend the Government consider increasing the exemption to £1,000 in order to fully cover the cost of advice and that the exempt sum is up-rated regularly.