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Articles for Pension Pots

How HALF of a pension could be gobbled up by Labour's tax snatch: JEFF PRESTRIDGE
1 month ago

How HALF of a pension could be gobbled up by Labour's tax snatch: JEFF PRESTRIDGE

Daily Mail  

Although it was the country’s farmers who yesterday took to the streets of London to rail against the horrible tax impact of Rachel Reeves’s Budget, another group of people are equally angry about the tax hit they and their families face. Final insult: From 2027, defined contribution pension funds will no longer be free from inheritance tax While farmers are …

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Inherited pensions could see 'double tax hit' of up to 70.5%: How it works and what new rules mean for YOU
1 month, 3 weeks ago

Inherited pensions could see 'double tax hit' of up to 70.5%: How it works and what new rules mean for YOU

Daily Mail  

Wealthy families could face a 'double tax hit' on inherited pensions of up to 70.5 per cent under new rules announced in the Budget. They have therefore become widely used as a way to pass wealth down the generations, and are often spent last by people whose estates could be hit by inheritance tax at 40 per cent. This is …

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Families face inheritance tax raid on pensions - what it means for your wealth
1 month, 3 weeks ago

Families face inheritance tax raid on pensions - what it means for your wealth

Daily Mail  

Inheritance tax: Pensions will be included in the assets that count towards death duties from April 2027 Chancellor Rachel Reeves has launched an inheritance tax raid on savers in the Budget by making pensions liable for the levy. Pensions will be included in the assets that count towards 40 per cent inheritance tax from April 2027, throwing family legacy plans …

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What are the chances of Rachel Reeves hitting YOUR wallet at the Budget? National insurance, capital gains and inheritance all in the crosshairs as 'tax bomb' looms
1 month, 3 weeks ago

What are the chances of Rachel Reeves hitting YOUR wallet at the Budget? National insurance, capital gains and inheritance all in the crosshairs as 'tax bomb' looms

Daily Mail  

Brits are bracing for grim news on Wednesday as Rachel Reeves mounts one of the biggest tax raids in history. Employer national insurance - 9/10 Rachel Reeves looks almost certain to increase employer NICs, despite claims it is a 'straightforward breach' of the Labour manifesto. Sir Keir and Ms Reeves are facing a pivotal moment in the Labour government at …

Tax Labour Pension Capital Gains Rate Reeves Rachel Reeves
Keir Starmer tells Brits they face a 'harsh reality': Prime Minister issues a new tax warning as Labour's Budget is set to batter employers with a major national insurance rise
1 month, 3 weeks ago

Keir Starmer tells Brits they face a 'harsh reality': Prime Minister issues a new tax warning as Labour's Budget is set to batter employers with a major national insurance rise

Daily Mail  

VAT on private school fees and non-dom crackdown - likelihood 10/10 The Labour manifesto committed to scrapping non-dom status, adding VAT to private school fees and increasing stamp duty on buyers from abroad. Employer national insurance - 9/10 Rachel Reeves looks almost certain to increase employer NICs, despite claims it is a 'straightforward breach' of the Labour manifesto. Capital gains …

Tax Labour Pension Rate Reeves Set Isa
£31.1bn sitting unclaimed in ‘lost’ pension pots – research
2 months ago

£31.1bn sitting unclaimed in ‘lost’ pension pots – research

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Around 3.29 million pension pots are now considered lost, …

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Rachel Reeves' '£25bn tax bomb': IFS warns Chancellor needs massive raid in Budget to balance books after public sector pay splurge - with NICs, pension pots and inheritance under threat
2 months, 2 weeks ago

Rachel Reeves' '£25bn tax bomb': IFS warns Chancellor needs massive raid in Budget to balance books after public sector pay splurge - with NICs, pension pots and inheritance under threat

Daily Mail  

Rachel Reeves needs a £25billion tax bomb to meet pledges and balance the books after her public sector pay splurge, a grim report warned today. Rachel Reeves needs a £25billion tax bomb to meet pledges and balance the books after her public sector pay splurge, a grim report warned today The grim assessment comes from the respected IFS think-tank as …

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Autumn Budget 2024: When it is and what experts predict will happen - from tax rises to pensions
3 months, 3 weeks ago

Autumn Budget 2024: When it is and what experts predict will happen - from tax rises to pensions

Daily Mail  

UPDATE: Rachel Reeves has now delivered her Budget. Basic rate taxpayers with taxable income below £50,270 pay 10 per cent capital gains tax, while higher and additional rate taxpayers pay 20 per cent. Rates are different on property that isn't your own home, and profits on second homes and buy-to-lets face capital gains tax rates of 18 per cent for …

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Rachel Reeves urged to launch £2bn inheritance tax raid on pension pots
5 months, 1 week ago

Rachel Reeves urged to launch £2bn inheritance tax raid on pension pots

The Telegraph  

David Sturrock, an economist at the IFS, said: “The current system gives an incentive to hold on to pension wealth and use other assets to fund retirement. “In terms of the inheritance tax revenues that would be gained from bringing pension pots into inheritance tax, the impacts now would be modest. Introducing IHT would mean taxing pension pots in the …

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