Provisions to reduce the money purchase annual allowance to go ahead

In our last Update we reported that the provisions to reduce the money purchase annual allowance from £10,000 to £4,000 and to provide an income tax exemption for up to £500 worth of employer-arranged pensions advice had been dropped from the Finance Act 2017 in order to pass the Act before the General Election. The Government has since confirmed that it plans to pass legislation to give effect to these measures which will have effect from the start of the current tax year.