Income tax
Pensions tax relief to 'cost' government £40bn this year
The government will pay out £21bn in income tax relief for pension contributions this tax year, while national insurance relief payments will rise to £18.7bn, according to statistics from HM Revenue and Customs (HMRC).
Estimated 1.75 million workers missing out on £60m in tax relief amid net pay 'scandal'
An estimated 1.75 million people are missing out on £60m in tax relief on their pension contributions in 2019/20, as the net-pay anomaly continues, Royal London estimates.
Scottish Budget income tax decision widens pension tax relief gap
Scottish higher-rate taxpayers will benefit from more pensions tax relief than workers on the same salary anywhere else in the UK as income tax bands continue to diverge.
HMRC pays out £38m to pension freedom users after overtaxing
HM Revenue and Customs (HMRC) has had to pay £38m to pension freedom users after more than 18,000 counts of tax overpayment were reported.
Five stories you may have missed this week
This week's top stories included the pension tax relief consequences of the Scottish government's decision to differ tax bands for Scottish workers compared to the rest of the UK.
Scottish pension savers face tax relief 'chaos'
Proposed changes to Scottish income tax bands could see savers receiving too little tax relief, commentators have warned.
One in six tax returns filed by over-65s
A rise in pensioner incomes and the freezing of pensioner tax-free allowance mean one in five taxpayers are now over the age of 65, Royal London says.
HMRC returns £27m of overpaid tax to pension freedom users
More than 10,000 counts of tax overpayment relating to pension freedoms have led to a £26.8m bill for HM Revenue & Customs (HMRC), latest data has revealed.
Labour launches general election manifesto
Labour has formally unveiled its general election manifesto - confirming pledges to amend the Takeover Code to protect pensioners, protect the triple-lock and give those overseeing the LGPS full trustee status.
Labour policy to raise income tax could see tapered allowance cut
Labour's proposal to raise income tax for higher earners could result in industry "horror" with the annual allowance taper being slashed by £70,000, Hargreaves Lansdown has warned.
800,000 people 'overpaying tax' on pensions due to wrong codes
Nearly a million savers could be paying more tax on their pension than required, simply because they have been given the wrong tax code, Royal London has claimed.
Tax relief reform 'attractive' for chancellor in Autumn Statement
A single rate of tax relief could be "far too attractive" for chancellor Philip Hammond to not consider introducing through his Autumn Statement, says public policy expert Iain Anderson.
Is this the beginning of the end for salary sacrifice?
Budget documents reveal the government is mulling a clampdown on the range of benefits available under salary sacrifice arrangements, writes Kristian Brunt-Seymour.
Pensioners still need minister to champion their cause says industry
A person dedicated to fighting for pensioners is still needed according to research from PP.
Have your say: do we need a pensions minister if Osborne has the last word?
This week we want to know if the UK needs a pensions minister if the Chancellor always has the last word and whether too many schemes are divesting from fossil fuels.
HMRC says £3.5bn taken since freedoms but Q4 shows signs of slowing
Statistics from HM Revenue and Customs (HMRC) have revealed 188,000 people have accessed around £3.5bn since freedom and choice came into effect last April but figures tailed off at the end of 2015.
Tax-free childcare in ten key points
HM Revenue and Customs has issued a ten point guide to the incoming Tax-Free Childcare scheme.
HMRC defeats Rangers FC over use of EBTs
Use of EBTs amounted to 'redirection of earnings' and therefore subject to tax, court decrees
Employer impact key consideration of NI and income tax merger
Employers' national insurance (NI) contributions will be a key consideration as part of a project exploring the potential merger of income tax and NI.
HMT reveals exclusions for £8,500 BiK cap removal
Carers who stay in their employer's home and ministers of religion are being excluded from the removal of the £8,500 benefits in kind (BiK) cap.
