CGT and pensions tax: Six Budget 2014 predictions

CGT and pensions tax: Six Budget 2014 predictions from Brewin Dolphin

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New limits on pensions tax relief, a boost for venture capital trusts (VCTs) and a simplification of capital gains tax (CGT) law are some of the likely headlines from next week's Budget, according to Brewin Dolphin.

Pensions Chancellor George Osborne is set to restrict what can be held in pension schemes, with possible new limits on tax relief, and an announcement pension pots below £40,000 will no longer have to buy an annuity. “The government has put in place measures to further limit tax reliefs to those thought of as wealthy,” said Richard Harwood, divisional director of financial planning. “It would seem that there is political will to restrict tax reliefs so the limits may be tightened further in future, but there is a danger that these will again hit the ‘squeezed middle’.” VCTs/EISs I...

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