How to protect yourself in Chancellor's tax war

Chancellor expected to scrap higher rate tax relief

clock • 4 min read

Chancellor George Osborne has already launched a number of punitive raids on high earners' pension privileges, but the widely anticipated scrapping of higher rate relief amounts to an all out assault, writes Sheriar Bradbury

Take the Chancellor's already announced tax cuts and factor in changes to the way dividends of small companies will be taxed from next year, and for owner-directors it is beginning to feel like total war. The good news is that there remains a short window of opportunity for certain individuals - owner-directors of companies in particular - to restructure their finances in a way that will protect them from the earliest impacts of these changes. Advisers can add real value to directors by finding synergies in the confluence of two attacks on their client, by drawing from the company and...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Pensions

First three firms complete pensions dashboards ecosystem connection

First three firms complete pensions dashboards ecosystem connection

Heywood, L&G and Pension Fusion have completed final stages required to connect

Holly Roach
clock 05 March 2025 • 3 min read
Post-Budget IHT planning: Gifting options in light of pension changes

Post-Budget IHT planning: Gifting options in light of pension changes

Withdrawals need to be spent, sheltered or gifted

Andrew Tully
clock 03 March 2025 • 4 min read
Pension transfers: Transparency vital in push to raise standards

Pension transfers: Transparency vital in push to raise standards

A glass half full for pension transfers?

Anthony Rafferty
clock 28 February 2025 • 3 min read