Pension rules have, since ‘Pensions Simplification’ a few years ago, become ridiculously complex. Much of the ad hoc, short term stuff added since has had unforeseen effects, such as huge tax bills for doctors having to work extra hours to keep the NHS afloat. They agree to do Saturday clinics, then find HMRC demanding £000s because more is automatically added to their pension entitlement. A quick fix is being applied now, but I doubt anything would have been done so quickly had the NHS not been such a hot election topic; but, hey ho, it’s progress.
“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.