Tax Day is a dud! Govt ignores reforms to pensions and CGT

No change to pension tax relief

Tom Ellis
clock • 5 min read

March 23 has been an important day in the diary for weeks as the government singled it out this particular Tuesday as the day it would release a number of key tax-related consultations not published alongside the Budget earlier this month.

However, so-called Tax Day has turned out to be a relatively tame affair for personal finance, with the Treasury ignoring key reforms that have been in the firing line and subject to previous consultations: pensions tax relief, inheritance tax and capital gains tax.  It has published a consultation seeking to raise standards in the tax advice market, which will seek views on the definition of tax advice and a requirement to make professional indemnity insurance compulsory for all tax advisers, "with a view to improving tax advice and providing taxpayers with better access to redress wher...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Tax planning

Inheritance tax receipts hit a record of £7.5bn as 2023/24 year ends

Inheritance tax receipts hit a record of £7.5bn as 2023/24 year ends

‘IHT is the tax gift that keeps on giving as record receipts have been banked’

Hope Coumbe
clock 23 April 2024 • 2 min read
Don't let these five tax changes slip through the advice net

Don't let these five tax changes slip through the advice net

Changes to tax policy advisers need to be aware of

David Downie
clock 18 April 2024 • 3 min read
Minimising clients' IHT liabilities: Where there's a will there's a way

Minimising clients' IHT liabilities: Where there's a will there's a way

There are ways to mitigate an anticipated inheritance tax bill

Richard Burgess
clock 08 April 2024 • 4 min read