View the article online at http://citywire.co.uk/new-model-adviser/article/a639285
Gov't to target pensions tax relief in squeeze on wealthy
by Alex Steger on Dec 03, 2012 at 07:46
Chancellor George Osborne is set to bow to pressure from the Liberal Democrats to target pensions tax relief in his Autumn Statement, according to reports.
The Sunday Times reported that Osborne was expected to reduce the annual allowance from £50,000 to £40,000 and was also considering cutting the level of pension tax relief higher earners can claim.
According to the Sunday Times the pensions move is part of a ‘deal’ with Lib Dem leader Nick Clegg who agreed to restrictions on the welfare budget on condition that high earners faced tax increases.
The Daily Mail reported that stamp duty on multi-million-pound home purchases could be increased.
News sponsored by:
Click here to watch a series of sponsored interviews with Jupiter's fund managers on the UK equity market.