Taxation

HMRC tax receipts for insurance premium tax (IPT) fell slightly in August this year — however the total for the year to date is still significantly higher than last year.  The data...

A House of Lords committee will scrutinise current plans to include pensions in inheritance tax calculations.  As part of this process the House of Lords Finance Bill sub-committee has launched a call...

A handful of savers have reclaimed more than £100,000 in tax, wrongly charged on pension withdrawals according to figures from HMRC.  The data on the size of these overpayments was supplied via...

Pension tax relief cost the Government £78.2bn last year, according to new HMRC statistics — causing speculation that the Chancellor may look to restrict this in the next Budget. This is the...

HMRC repaid £48.7m in tax wrongly taken on pension withdrawals in the second quarter of 2025 — despite introducing new systems to address this problem. These overpayments related to more than 12,000...

The future of Lifetime Isas hangs in the balance after an influential parliamentary report said they were overly complex, fail to support good financial decisions and are not ‘working as intended’, throwing...

Penfold has reported an significant jump in employers enquiring and switching to salary sacrifice pension options, in the wake of the rise in national insurance contributions.  The government raised employer NI rates...

Brits reclaimed £44 million for overtaxation on pension withdrawals in the first quarter of 2025, according to the latest HMRC figures. According to the data, over 15,000 reclaim forms were processed during...

The government collected record receipts from  insurance premium tax and inheritance tax in the last year, according to the latest HMRC update. Its figures show the IPT tax receipts stood at £8.88bn...

Government receipts for both inheritance tax and insurance premium tax have reached record levels, according to new HMRC data.  Its figures show that IHT receipts for the first 11 months of this...