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  • Trending now
  • Nominations open for WIFA 2021
  • Mattioli Woods in £4m acquisition
  • Young British Steel client
  • Pensions

Kay Ingram: Sunak's LTA freeze creates 'bizarre disincentive'

Spring Budget announcement

Kay Ingram: "Imposing the LTA as well inhibits investment risk-taking which in other parts of his speech the Chancellor sought to encourage."
Kay Ingram: "Imposing the LTA as well inhibits investment risk-taking which in other parts of his speech the Chancellor sought to encourage."
  • Kay Ingram
  • 04 March 2021
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Chancellor Rishi Sunak sent a confusing message to pension savers when he froze the LTA in the Budget. If investment success could be rewarded with a tax bill it creates a bizarre disincentive, writes Kay Ingram

Pre-Budget rumours that tax relief on pension savings would be reduced to a standard rate, rather than the more generous marginal income tax rate of 40p or 45p in the pound did not surface in Sunak's second...

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At the time, he says the British Steel pension scheme was renowned for being a good, strong scheme and as a local boy himself, he knew he would be set up when he eventually retired.
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