Tag Archives: LTA

A stealthy wealth tax – outed by LCP

The Treasury has proposed that pensions will be taxed where the saver dies before age 75. This is how the Treasury introduce the idea Schedule 32 sets out that the payment of an UFLSDB or DBLSDB is a BCE where the member dies under age … Continue reading

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Labour should pick its fights – capping people’s pensions should not be one of them

Labour says re-instating the #pensions lifetime cap would be prudent for the nation’s finances. via @telegraph https://t.co/Q0j0P07OtU — Josephine Cumbo (@JosephineCumbo) April 23, 2023 There are many things wrong with our pensions system, but removing a cap on people’s pensions … Continue reading

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Top lawyer warns against precipitous action over LTA (shock)

Rosalind Connor’s presentation and Q&A on the taxation changes to pensions in this year’s Finance Bill make for a good watch. As usual we’ve made the session available to those who couldn’t make it yesterday – and it was great … Continue reading

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Claire’s pension tax headaches aren’t over!

I’ve been asked to write a case study on the issues people have as they approach retirement with well funded pensions and pension pots and plans put in place to combat the impact of the Lifetime Allowance (LTA). This is … Continue reading

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Labour vows to put the lid back on the pension pot.

Just when you thought it was safe to go back in the water…. NEW: Labour confirm they would reverse the decision to scrap the pensions lifetime allowance cap. They call it “the wrong priority, at the wrong time, for the … Continue reading

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A budget for pensions that are “victims of their own excess”

Today is budget day and by lunchtime we will know whether the strong rumors that the Lifetime Allowance and Annual Allowance will be adjusted upwards are true. We will also know if the less palatable options around increasing the minimum … Continue reading

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Right in principle – wrong in practice. Ros Altmann’s tax reforms need more work

  Ros Altmann is bang on the money when proposing we link healthcare and pensions in her most recent blog The big picture policy issue for the UK is how to afford a healthcare system that is free at the … Continue reading

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Beware the reasonable Ralfe

John Ralfe has written an article on the problems highly paid NHS staff are having staying members of the NHS Pension Scheme. He has a number of remedies for the Doctors, most involve Doctors being able to swap pension accrual … Continue reading

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Why I’m for “patient capital”

‘Patient capital’ plan could unlock pensions savings limits https://t.co/Du4qIqcSs3 via @FT — Josephine Cumbo (@JosephineCumbo) November 24, 2017   I missed the consultation on “patient capital” but I’m pleased that it’s resulted in a proposal was put forward by an … Continue reading

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AA and LTA – a small price for the rich to pay.

  The Telegraph have unearthed some research that suggests that the average extra tax paid by the pension super-rich is £46,332. HMRC’s figures show that the total amount of tax paid by people whose pension savings rise above the lifetime … Continue reading

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