Tax relief

The Office of Tax Simplification (OTS) will examine pensioner taxation in a new review announced today.

Some high net worth (HNW) individuals are failing to claim their 40-50% pensions tax relief because they do not know they must claim it themselves.

The Prime Minister has dealt a severe blow to the private medical insurance (PMI) industry's hopes of receiving tax relief to encourage public take up.

The Treasury is reportedly discussing plans to axe higher rate tax (HRT) relief on pensions altogether, but PwC partner Marc Hommel says reform is not on the cards.

The Treasury has proposed to remove tax relief on compensation payments for pension mis-selling.

Michael Johnson has reignited calls for limiting pensions tax relief, saying the annual £29bn saved by the Treasury from tax relief could increase the state pension by 60%.

ISAs have failed low income workers with inadequate savings and only benefit people who would have saved anyway, a think tank claims.

Advisers must ensure clients are not caught out by little-known flexible drawdown rules this year, SIPP provider Talbot and Muir warns.

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