Summer Budget: Annual allowance cut for higher earners to fund inheritance tax giveaway

clock

Cuts to tax relief high earners can claim on pension contributions will be used to fund an increase in the inheritance tax threshold, George Osborne has confirmed.

In today's emergency Budget, the Chancellor said the government would go ahead with plans to reduce tax relief for those earning more than £150,000. As proposed in the Conservative manifesto, 50...

Upgrade

Professional Pensions is the UK's leading publication for the occupational pensions industry offering unrivalled coverage of the key issues facing schemes and their sponsors.

Professional Pensions offers:

  • REAL-TIME NEWS & ANALYSIS: find out what's happening in the industry right now and why
  • INVESTMENT: Gain essential insight and expertise, designed to arm decision makers with the knowledge to navigate the evolving investment environment
  • OPINION: Professional Pensions hosts regular roundtable and panel debates providing in-depth analysis on a range of investment, administrative and legal topics

Register now

More on Law and Regulation

HMRC says administrators will need to continue to operate LTA checks

HMRC publishes guidance on LTA abolition process

Members who hold valid enhanced or fixed protections will be able to accrue new benefits

Jonathan Stapleton
clock 17 March 2023 • 1 min read
Nigel Peaple is director of policy and advocacy at the Pensions and Lifetime Savings Association

PLSA says regime stability needed after busiest pension budget since 2015

Nigel Peaple reviews the government’s Budget measures on pensions

Nigel Peaple
clock 16 March 2023 • 3 min read
Rosalind Connor says there may be some rowing back in the future

'Devil in the detail' - What lawyers say about 'complex' LTA abolition

‘Some rowing back’ may happen as framework is taken apart

Jonathan Stapleton
clock 16 March 2023 • 4 min read
Trustpilot