pension levy increased to 0.75% and then reduced from 0.6% to 0.15%

[Brendan Burgess]

or as he says "Cancelled as promised"


Pension Fund Levy
The 0.6% stamp duty levy on pension fund assets is to increase to 0.75% for the year 2014. The levy will be reduced to 0.15% for 2015.

 

[orka]

Not a rant but I don't think it's accurate to describe this as 'reducing the pension levy' - more like reinstating at a lower level. It was supposed to be 0% from next year.

 

[Brendan Burgess]

Hi Orka

Hard to know how to describe it

In the speech, Noonan said he was abolishing it.

But in practice, he is increasing it in 2014 and reducing it the following year.