- published: 01 Oct 2014
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Pension tax simplification, often simply referred to as "pension simplification" and taking effect from A-day in 6 April 2006 was a policy announced in 2004 by the Labour government to rationalise the British tax system as applied to pension schemes. The aim was to reduce the complicated patchwork of legislation built-up by successive administrations which were seen as acting as a barrier to the public when considering retirement planning. The government wanted to encourage retirement provision by simplifying the previous eight tax regimes into one single regime for all individual and occupational pensions.
Broadly the new regime allows considerable freedom in the tax relievable contributions that may be made to pension schemes, and the assets in which they may be invested. It also however caps the size of tax favoured pension fund that may be accumulated by an individual. This 'lifetime allowance' was set at £1.6M for 2007–08. Funds accumulated in excess of the lifetime allowance are subject to a tax charge of 55%. Transitional protection provisions were made for individuals who had already accumulated pension funds in excess of this amount.
DeAndre Cortez Way (born July 28, 1990), better known by his stage name Soulja Boy Tell 'Em, or simply Soulja Boy, is an American rapper, record producer, actor, and entrepreneur.
In September 2007, his single "Crank That (Soulja Boy)" reached number one on the Billboard Hot 100. The single was initially self-published on the internet, and it later became a number-one hit in the United States for seven non-consecutive weeks starting in September 2007. On August 17 Way was listed at #18 on the Forbes list of Hip-Hop Cash Kings of 2010 earning $7 million for that year.
Way has currently released three studio albums and one independent album: his debut studio album Souljaboytellem.com (2007) was certified platinum by the RIAA. However, his next two albums, iSouljaBoyTellem (2008) and The DeAndre Way (2010) did not match the commercial success of his debut, the latter only selling 100,000 copies, despite the success of several singles across both albums, such as "Kiss Me Thru the Phone" and "Turn My Swag On" (iSouljaBoyTellem) and "Pretty Boy Swag" (The DeAndre Way).
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