“Budget 2020: Relief for higher-rate taxpayers as no changes to pension tax relief system”

Mar 12, 2020 | Pensions

An independent (financial adviser’s) view

I guess Rishi had other things on his mind, but, once again, the only Budget changes to pensions amounted to a bit of tinkering. The amount doctors and others can earn before their pension annual allowances are hit has been increased and, for probs the 40th year in a row, the ‘pension tax relief to be cut’ rumour has proven to be just a rumour. No changes, either, to Inheritance Tax; but, for those planning to sell their businesses and retire, a pretty big cut in capital gains tax relief. So you’re stuck with me for a few more years. Soz.

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“Rachel Reeves may be forced to raise taxes”

“Rachel Reeves may be forced to raise taxes”

Why did she/they (in the old sense) think that tinkering around with IHT and CGT would be enough to sort out the NHS; and the potholes; and…and the list goes on. My guess is  that they asked the Treasury for a list of anything not involving income tax that they could get away with lightly, although they should already have learned from the winter fuel stuff that all publicity is not good publicity.