PSI4.2.3 - Tax Relief: Post Finance (No 2) Act 1987

(This archived guidance relates to HMRC discretionary practice before the 6th April 2006. For current guidance on Registered Pension Schemes see the Registered Pension Schemes Manual)

Finance (No 2) Act 1987 introduced more flexibility for employees by amending the legislation so that it was no longer necessary for their contributions to be OACs in order to qualify for tax relief. From 6 April 1987 relief for their contributions is available in any year of assessment up to a maximum of 15% of their remuneration for that year - now section 592(7) and (8) ICTA 1988.

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