News & Analysis as of

Pensions Tax Relief

IR Global

Higher rate tax relief on pension contributions

IR Global on

Want to make the most of your pension savings? You could claim up to 45% tax relief on contributions, plus carry forward unused allowances. Here’s how to boost your retirement pot with generous HMRC incentives....more

IR Global

Myths about self-assessment

IR Global on

In a recent press release, HMRC addressed some common misconceptions about who needs to file a self-assessment return before the 31 January 2025 deadline and clarifies some of the most widespread myths....more

IR Global

Is your income over £100,000?

IR Global on

If you earn over £100,000 in any tax year your personal allowance is gradually reduced by £1 for every £2 of adjusted net income over £100,000 irrespective of age. This means that any taxable receipt that takes your income...more

Bennett Jones LLP

Supplemental Pension Plans Secured with a Letter of Credit may Soon Receive Much Anticipated Refundable Tax Relief

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On November 30, 2023, the federal government introduced Bill C-59, Fall Economic Statement Implementation Act, 2023 (Bill C-59), which included proposed amendments to the Income Tax Act (Canada) (ITA) to implement changes...more

Bennett Jones LLP

Supplemental Pension Plans Secured with a Letter of Credit—Federal Budget 2023 Proposes Refundable Tax Relief

Bennett Jones LLP on

Retirement compensation arrangements (RCAs) are, in appropriate circumstances, a useful tool for employers to provide supplemental pension benefits to employees, but such arrangements come at a cost of refundable tax under...more

Jackson Walker

Payroll Tax Relief and Latest Developments in Retirement Plans and Benefits

Jackson Walker on

Payroll Tax Relief Under CARES Act, FFCRA, and Executive Order - While the Coronavirus Aid, Relief, and Economic Security (CARES) Act permitted employers to defer depositing the portion of the FICA taxes the employer pays...more

Akerman LLP

Outlook for the Next Phase of Coronavirus Mitigation Legislation

Akerman LLP on

As soon as this week, Speaker of the House Nancy Pelosi (D-CA) may introduce the next coronavirus mitigation bill. This will start a process that will run for weeks and will be very controversial. It will also result in a...more

White & Case LLP

COVID-19 – Key UK Employment Issues Guidance Note (Updated)

White & Case LLP on

Companies and their workforces are in unprecedented circumstances, with COVID-19 changing situations and advice on a frequent basis.  In this alert, we have set out below the key issues faced by employers across the UK and...more

Foley Hoag LLP

The CARES Act: Tax Relief Provisions

Foley Hoag LLP on

On March 27, 2020, Congress passed the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”), the third and by far the largest stimulus package passed by Congress to respond to the COVID-19 outbreak. As discussed...more

McDermott Will & Emery

Frozen 2: IRS Expands Nondiscrimination Relief for Frozen Defined Benefit Pension Plans

McDermott Will & Emery on

The Internal Revenue Service (IRS) expanded the temporary relief for frozen defined benefit plans to include nondiscrimination requirements relating to benefits, rights and features, available for plan years beginning before...more

McDermott Will & Emery

Weekly IRS Roundup June 3 – 7, 2019

McDermott Will & Emery on

Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of June 3 – 7, 2019. June 4, 2019: The IRS issued a news release noting that it granted tax relief...more

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