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Personal Tax

Pension lump sum tax implications not understood

Thousands of people could be pushed into the higher rate tax bracket if they take advantage of the new pension freedoms from April 2015, research by MGM Advantage has found.

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Tax on inherited pensions abolished

The 55% tax charge on inherited pensions will be abolished from April 2015, the Chancellor George Osborne has announced.

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PM hints at inheritance tax change

The inheritance tax threshold should be raised above its current £325,000 limit for individuals, Prime Minister David Cameron has said.

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Tax evasion campaign launched

HM Revenue & Customs has unveiled an advertising campaign tackling tax evaders who hold money in offshore accounts.

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Paperless self-assessment proposed

HM Revenue & Customs has announced plans to make the online self-assessment service "a more complete end-to-end digital experience".

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Lifetime gifts alter the traditional inheritance

The traditional inheritance is becoming a thing of the past as more parents choose to give away assets during their lifetime, data from the Office for National Statistics has suggested.

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Pensions lifetime limit cut to affect thousands

The number of individuals affected by next year's cut in the lifetime limit for pension contributions is likely to be higher than Government figures suggest, according to pension provider Standard Life.

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Higher rate taxpayers missing out on pensions tax relief

An estimated 182,000 higher rate taxpayers are missing out on pension contributions tax relief worth around £229 million, according to research from Prudential.

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£3bn paid in inheritance tax in 2012/13

Inheritance tax cost families and individuals more than £3 billion in 2012/13, according to figures from the Office for National Statistics (ONS).

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