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Regulations have been laid to bring into effect the pension contributions anti-forestalling provisions contained in Finance Act 2009.

The Government has announced its intention to restrict, to the basic rate of income tax, tax relief on pensions savings with effect from 6 April 2011, for people with a taxable income of £150,000 or more.

Finance Act 2009 introduced a Special Annual Allowance Charge (SAAC) which is an anti-forestalling provision which seeks to restrict pensions tax relief for those high income individuals who increase their savings above their normal pattern of savings ahead of 6 April 2011 (see Budget Note 47). The Disclosure Regime has been amended to add in a new description to secure the disclosure of any schemes that seek to avoid the special annual allowance charge (SAAC) introduced in Finance Act 2009 (SI 2009/2033) have been made and laid and will come into effect on 1 September 2009. However, a transitional rule will require disclosure of schemes where the event that triggers a disclosure, under the normal rules, occurs between 23 April and 31 August 2009 inclusive.