New Model Adviser - For professional financial planners

Register to get unlimited access to all of Citywire’s Fund Manager database. Registration is free and only takes a minute.
6750.76 + 72 1.08% 04:35

Gov't to target pensions tax relief in squeeze on wealthy

15 comments
Gov't to target pensions tax relief in squeeze on wealthy

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. 

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.