Tag: pension 2024
Warning tax raid on pension contributions ‘could deter savers’
Currently, workers on more than £50,271 can claim tax relief on their pension contributions at a rate of 40 percent, which matches the income tax rate payable. …
UK households face possible Labour £65k inheritance tax on pensions under new proposal
Brits could be hit with a new death duty from October, as Labour eyes up inheritance tax as a way to help plug the £22bn black hole left by the Tories in the Cost of Living crisis …
Move to cap tax-free pension lump sum to £100,000 could cost retirees more than £70,000
Currently, workers can take out a maximum sum of £268,275 without paying tax, which many people count on to pay off debts, such as mortgages. …
State Pension back payments of £5,000 due for women in their 60s and 70s by end of 2025
The Treasury is working with the Department for Work and Pensions to correct any administration errors as quickly as possible and letters are being sent out …
