With the highly anticipated Autumn Budget coming up, advisers will have to navigate tax changes and consider the implications this will have on retirement planning, according to BNY Investments head of retirement Richard Parkin.
As the landscape of taxation could change after Rachel Reeves' Autumn Budget on 30 October, particularly in relation to pensions and retirement benefits, financial advisers and their clients must stay vigilant, Parkin told Professional Adviser. "Potential changes in tax treatment could significantly impact those in retirement or nearing it, particularly regarding death benefits and tax-free cash allowances," he said. The impact of tax on retirement planning A key focus for many advisers is the potential alteration in the treatment of death benefits from retirement funds, Parkin said...
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