Tag Archives: tax relief

Pension paralysis over the net-pay rip off.

Posted on April 13, 2018 by henry tapper

I won’t bore you with a list, but there are 31 blogs on this site dealing with various aspects of the net-pay rip-off which is denying hundreds of thousands of low-paid people the incentive promised them by HMRC for contributing … Continue reading →

Posted in Payroll, pensions | Tagged , , , , , , | 5 Comments

Too late Chancellor – that ship has sailed!

Posted on October 17, 2017 by henry tapper

  If I were a cynical editor looking for a story to focus on, I would look no further than speculation on the autumn statement. Yesterday the Telegraph floated a story, purportedly a leak from #10, that the Chancellor was … Continue reading →

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The half completed bridge – pension tax reform.

Posted on March 8, 2017 by henry tapper

      Today is Budget Day, though you wouldn’t know it! It’s a kind of side-issue when mainstream news is dominated by Trump’s latest antics and speculation over BREXIT. There was a time when the Pension world would be … Continue reading →

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Whatever happened to the reform of pension tax relief?

Posted on September 7, 2016 by henry tapper

The Government’s plans to resolve the injustices of the Pension Tax Relief system appear to have been ditched. Announced in the budget of 2015, expected in that year’s autumn statement and postponed in the months running up to this year’s … Continue reading →

Posted in advice gap, annuity, auto-enrolment, pensions | Tagged , , , , | 4 Comments

Tax-subsidies on retirement advice; a waste of public funds!

Posted on September 5, 2016 by henry tapper

The Government intends to extend tax breaks on pensions to allow those with pension pots to use them to pay for advice. The details are in this consultation document. The fundamental premise is that taking financial advice on retirement matters … Continue reading →

Posted in advice gap, consultant, dc pensions, de-risking, defined ambition, pensions | Tagged , , , , , , , , | 4 Comments

Why Now had to bail out HMRC

Posted on March 20, 2016 by henry tapper

  Workplace pension provider NOW: Pensions has announced  that it will pay the Government’s workplace pension for the Government. For the 2015/2016 tax year NOW will make up the income tax relief shortfall for members of its scheme that aren’t taxpayers … Continue reading →

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How tax relief works (guest blog from Vincent Franklin)

Posted on March 18, 2016 by henry tapper

  I love this simple explanation of how tax-relief works. Far too well written to be by me, the words are from Quietroom’s Vincent Franklin.   The government wants us to save for when we retire. They encourage us through … Continue reading →

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The late-pain robbery! (why pensions are still for the chop)

Posted on March 13, 2016 by henry tapper

It’s been two weeks since the Treasury announced no change on pension tax-relief and everybody’s happy nowadays. The forestalling jamboree that had seen SIPP provider AJ Bell estimate £1.5bn flowing into wealth preservation schemes (sorry SIPPs) has been de-railed. We … Continue reading →

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Tax relief may be safe but our pensions aren’t

Posted on March 6, 2016 by henry tapper

I wrote yesterday about the shock announcement from the Treasury that it wasn’t going to do anything about pension tax relief. Normally the Treasury does nothing about tax relief without telling us, which was great for financial advisers who saw a … Continue reading →

Posted in pensions | Tagged , , , , , , , , | 3 Comments

Beware false prophets!

Posted on March 5, 2016 by henry tapper

Before breathing a sigh of relief, the pension industry should remember the diversionary tactics put in place by the Treasury prior to the introduction of Pension Freedoms , the budget before last. Tax relief- as it impacts you and me- … Continue reading →

Posted in pensions | Tagged , , , , , | 2 Comments