I’m expecting changes to CGT, gambling winnings, pensions for higher (and up) tax rate payers, and IHT
I’d guess the pensions makes sense - you can take money out of an effective 62% tax rate, but you’ll never be paying that sort of tax rate when you withdraw from your pension, so that tax just wouldn’t get paid
IHT has so many exemptions too. The tories would have done better just having a simple system and increasing the threshold. Right now, you can pass a pension down and it’s exempt from IHT, and you already skipped a bunch of tax on it already
I’m expecting changes to CGT, gambling winnings, pensions for higher (and up) tax rate payers, and IHT
I’d guess the pensions makes sense - you can take money out of an effective 62% tax rate, but you’ll never be paying that sort of tax rate when you withdraw from your pension, so that tax just wouldn’t get paid
IHT has so many exemptions too. The tories would have done better just having a simple system and increasing the threshold. Right now, you can pass a pension down and it’s exempt from IHT, and you already skipped a bunch of tax on it already