Tax Planning

George Osborne's call for radical thinking on pensions tax relief could solve the problem "once and for all" but there are huge policy issues to overcome, industry experts have said.

The 2015-16 tax year will be split into two mini tax years for the purposes of the annual allowance as part of transitional rules, the government has announced.

HM Revenue & Customs (HMRC) is to hold regular stakeholder forums to help clarify and develop the rules surrounding EIS, SEIS and VCT schemes.

HM treasury will "actively monitor" the effect of salary sacrifice on tax receipts and has left the door open to cutting back on the benefit.

A shift from an 'EET' to a ‘TEE' tax system could save the government £10bn a year, academic Michael Johnson has said.

The personal allowance, the level before tax is paid on income, will increase to £11,000 next year, the Chancellor has said, a year earlier than previously announced.

Chancellor George Osborne is to publish a green paper to seek feedback on a plan to make "pensions more like ISAs".

High earners have had the tax relief on their pension contributions cut in today's Summer Budget.

George Osborne has confirmed the inheritance tax (IHT) threshold will increase to £1m for couples funded by a pension tax relief cut for people earning more than £150,000.

Welcome to Professional Adviser's as-it-happened coverage of the summer Budget 2015 - with a slant, as always, towards those announcements, issues, outcomes and views affecting UK financial advisers...