Displaying items by tag: Budget
Martin Tilley: How the Budget has changed Pensions
As we near the end of the year and look forward to 2025, it’s difficult not to reflect on the year to date. 2024 presented new challenges for the pension industry, most notably in respect of the implementation of the lifetime allowance abolishment and more recently, the announcement that from 2027, ‘unused’ pension benefits will be subject to inheritance tax.
James Jones-Tinsley: Time to face up to the IHT threat
Despite all the pensions-related fear and speculation that swirled around in the media during the weeks leading up to the Budget on 30 October, it was more of a case of ‘what didn’t happen to pensions’, rather than what did.
Budget: Inherited pensions to be hit with IHT from 2027
From April 2027 inherited pension pots will be subject to inheritance tax (IHT), Chancellor Rachel Reeves announced today in her Budget.
Advised clients showing Budget jitters - AJ Bell
Financial advisers have reported a surge in worried clients contacting them with Budget-related questions on pensions taxation and wealth management, a survey by AJ Bell has revealed.
James Jones-Tinsley: Budget panic needs cooling
The first Labour Budget for 15 years takes place on 30 October.
Beth Joslyn: Why we need a patient Chancellor
Last year, a whirlwind of change hit the pensions industry as schemes and advisers raced to prepare for the removal of the lifetime allowance, while HMRC staff scratched their heads over exactly how it could be done before the end of tax year deadline, writes Beth Joslyn, of AJ Bell (standing in for Lisa Webster who is on holiday).
Martin Tilley: Pensions entering a 'corridor of uncertainty'
As the England cricket team play their last home test series of the summer, I am reminded of a term popularised by the former England batsman Geoffrey Boycott.
Budget: Chancellor pushes ahead with 'Pot for Life'
Chancellor Jeremy Hunt has reaffirmed the Government’s plans to give people one ‘pension pot for life’, moveable from job to job, despite concerns shared by the financial advice industry.
Chancellor sets 6 March as date for Spring Budget
The Spring Budget 2024 will take place on 6 March, the Treasury confirmed today.
John Moret on a bombshell Budget
John Moret is one of the UK's leading SIPP experts and commentators. As he enters his 75th year, still working part-time, he begins a series of articles looking back at his long career and key topics which have steered the pensions sector. He starts with a timely look at the Chancellor's pension bombshell Budget delivered only yesterday.