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Revenue files secret pension plan

The Inland Revenue has filed its closely guarded report on simplifying the pension tax regime to ministers and now awaits publication this month.

The review has been kept under wraps since it was announced by the Treasury in March 2001. It is believed to contain radical proposals on pension complexity.

Without close co-operation with the Revenue, it is unlikely that the DWP&#39s simplification review, headed by Alan Pickering, will be able to achieve change.

Pickering says he has been working closely with the Revenue team and their reforms will “form two parts of the same package”.

Pickering is expected to report in July and he is also tipped to present radical proposals, which some say means creating a single tax regime for all pensions.

A Revenue spokeswoman says: “We are on line to publish in June.”

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