Clients and advisers face significant uncertainty as the Budget approaches, writes Andrew Tully. Here he looks at potential changes to pensions which may or may not materialise...
As we approach October's Budget there are rumours of impending changes to pension tax rules – as there has been for every fiscal event for as long as I can remember. However, this time it feels a little different. We have a new government highlighting there is a significant £22bn ‘black hole' in the country's finances. But which has also significantly limited its room for manoeuvre by promising no increases to mainstream taxes which account for around two-thirds of all tax receipts. So, with the prime minister promising a ‘painful' Budget, it increases the likelihood of a range of mea...
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