I welcome the change of approach. Moving to a system where relief is restricted to monetary amounts rather than by reference to earnings is a positive step. I say this not from political imperative but out of practicality. People need to know where they stand. A financial limit is clear and simple: an income based system requires people to know what their income is during a tax year. For employees that may not be a problem but for the entrepreneurial clients I deal with it can often take months to determine the precise level of income. The previous proposals would have been a nightmare to deal with for clients with earnings hovering around the £150K mark.
The £50 000 limit is more generous than I anticipated and the ability to carry forward unused relief is an expected bonus. I can certainly see this being used by many clients. Earnings don’t...