Taxation

In her first Budget the Chancellor Rachel Reeves has confirmed that pensions will be included within the value of estates for inheritance tax purposes. This change will be effective from April 2027...

The Treasury collected record revenues from insurance premium tax (IPT) in the first half of this year, and has seen a strong increase in receipts from inheritance tax (IHT) and capital gains...

Millions of employees could face a poorer retirement if the Chancellor levies National Insurance on pension contributions in this month’s Budget, according to industry concerns. The Institute for Fiscal Studies estimates that...

We are weeks away from what could be one of the most momentous Budget statements for years. George Osborne’s bombshell 2014 Budget unleashed the pension freedom reforms – and transformed Britain’s personal...

Chancellor Rachel Reeves is reported to have ‘stepped back' on plans to scrap higher rate tax relief on pension contributions. There had been significant speculation that Reeves might target pension funds in...

Savers reclaimed £57 million in overtaxation on pension withdrawals in the second quarter of this year. Many people accessing their pension for the first time continue to charged too much tax on...

The money raised via inheritance tax rose by 4 per cent in the 2021/ 22 tax year according to latest HMRC statistics.  Figures show that while a marginally higher proportion of UK...

Pensions cost the Treasury £48.7 billion in the year ending 2023— an increase of £1.1 billion over the previous year, according to analysis of the latest HMRC data. LCP partner and former...

Axing the winter fuel payment for the majority of pensioners is equivalent to reducing the state pension by 3 per cent, according to analysis by campaigner and former pension minister Baroness Ros...

Reforming the taxation of pensions to remove upfront tax relief could net the Treasury up to £20 billion a year, without disadvantaging pension savers over the long term, according to new analysis...