Personal tax

Pension industry groups are warning that government plans to cut the tax relief available to higher earners on their pension contributions could have an adverse impact on the whole savings and retirement system.

Changes to pensions tax relief for higher earners could be counterproductive, it has been claimed.

Taxes may have to rise by significant amounts if the UK’s public finances are to return to balance in the timescale outlined by the Chancellor, a think tank has claimed.

HM Revenue and Customs (HMRC) has warned taxpayers to be on their guard against fraudulent emails promising them a tax rebate.

An enabling clause should give taxpayers a greater stake in the planned Tax Charter.

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