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).
“How can I legitimately reduce my tax bill” or “how can I keep more of my income” are two similar questions we get asked fairly regularly, often by clients who seek to validate how they are managing their finances.
All investors have to begin somewhere. The short answer is £50 a month, but that’s probably not particularly helpful to you because it does not take into account your circumstances.