How to protect yourself in Chancellor's tax war

Chancellor expected to scrap higher rate tax relief

clock • 4 min read

Chancellor George Osborne has already launched a number of punitive raids on high earners' pension privileges, but the widely anticipated scrapping of higher rate relief amounts to an all out assault, writes Sheriar Bradbury

Take the Chancellor's already announced tax cuts and factor in changes to the way dividends of small companies will be taxed from next year, and for owner-directors it is beginning to feel like total war. The good news is that there remains a short window of opportunity for certain individuals - owner-directors of companies in particular - to restructure their finances in a way that will protect them from the earliest impacts of these changes. Advisers can add real value to directors by finding synergies in the confluence of two attacks on their client, by drawing from the company and...

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 Pensions

Do clients already own the best retirement portfolio?

Do clients already own the best retirement portfolio?

'Feeling safer and being safer aren't the same thing'

Alex Funk
clock 29 October 2026 • 4 min read
Budget 26: Government to get rid of two-year tax rule on lump sum death benefits

Budget 26: Government to get rid of two-year tax rule on lump sum death benefits

Changes will also be made to how tax due on excess lump sum death benefits is collected

Jonathan Stapleton
clock 28 October 2026 • 1 min read
Budget 26: State pensioners to be shielded from income tax

Budget 26: State pensioners to be shielded from income tax

State pension expected to rise to £13,036

Sophia Panayi
clock 28 October 2026 • 2 min read