OTS proposal could trigger a spike in pension tax relief bills.
Higher-rate taxpayers who save into personal pensions and fail to claim extra tax relief could soon have it handed to them automatically under a new proposal.
Chancellor Rishi Sunak is expected to shelve plans to introduce tax rises in next month’s Spring Budget, according to reports.
The Chancellor will deliver his second Budget on 3 March 2021 and his first since COVID-19 began to engulf the UK last March.
The average person in their 30s and early 40s faces a wait until they are 64 to inherit their parents’ wealth, according to the Institute of Fiscal Studies (IFS).
Mortgage payment breaks have been extended for homeowners who are being financially affected by the ongoing pandemic.
UK economic recovery slows to 2.1% in August. The UK’s economic recovery following sharp declines caused by the coronavirus lockdown continued to slow in August 2020, official figures show.