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Compensation Restructuring UK and Europe

April 23, 2009

By Arun Birla, Ronan O'Sullivan, Mark Poerio and Christopher Walter

UK Budget Announcement

The announcement of the UK's 2009 budget on 22 April 2009 introduced a new top rate of income tax. From April 2010, an additional income tax rate of 50 per cent will apply to people earning over £150,000 and the income tax personal allowance will be reduced for those with incomes over £100,000. From April 2011, pension tax relief will also be restricted for those with incomes over £150,000.